lumley road 5711 morrisville, nc...colliers international | 7 5711 lumley road demographics...

2.65-ACRE DEVELOPMENT SITE

Morrisville, NCLumley Road5711

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COLLIERS INTERNATIONAL | 2

5711 Lumley RoadPROPERTY MAP

ADDRESS 5711 Lumley RoadMorrisville, NC

PIN: 0759-04-62-4102

LOCATION Durham CountyTown of Morrisville

AREA 2.65 AC

CURRENT ZONING RR

ACCESS Lumley Road

UTILITIES All public utilities nearby

ASKING PRICE $650,000

KEY FEATURES267 ft. of road frontagenear busy intersection

+30,000 AADT

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5711 Lumley RoadAREA MAP

FUTURE 540 COMPLETIONFUTURE 540 COMPLETION

RDURDUInternationalInternational

AirportAirport

Research Research Triangle ParkTriangle Park

Apex Downtown Raleigh 15 miles, 24 minutes

RDU Airport 4.3 miles, 8 minutes

RTP 3.3 miles, 5 minutes

Downtown Durham 13.8 miles, 17 minutes

DRIVE TIMES


5711 Lumley RoadTOPOGRAPHY


5711 Lumley RoadCURRENT ZONING

RR


5711 Lumley RoadSTREAMS


5711 Lumley Road

DEMOGRAPHICS

POPULATION 1-MILE 3-MILE 5-MILE

2000 Population 6,361 40,986 92,994

2010 Population 7,875 48,641 102,730

2018 Population 9,282 54,484 117,690

2023 Population 10,670 59,006 128,967

2000-2010 Annual Rate 2.16% 1.73% 1.00%

2010-2018 Annual Rate 2.01% 1.38% 1.66%

2018-2023 Annual Rate 2.83% 1.61% 1.85%

Daytime Population 7,335 57,882 155,101

2018 Median Age 33.7 38.6 34.4

HOUSEHOLDS

2000 Households 3,005 17,100 36,659

2010 Households 3,309 20,041 40,913

2018 Total Households 3,854 22,226 47,259

2023 Total Households 4,408 24,017 52,002

2000-2010 Annual Rate 0.97% 1.60% 1.10%

2010-2018 Annual Rate 1.87% 1.26% 1.76%

2018-2023 Annual Rate 2.72% 1.56% 1.93%

2018 Average Household Size 2.34 2.42 2.35

HOUSING

2018 Total Housing Units 3,279 18,187 39,401

2018 Owner Occupied Housing Units 1,450 12,594 21,944

2018 Renter Occupied Housing Units 2,404 9,632 25,315

2018 Vacant Housing Units 360 1,652 4,297

MEDIAN HOUSEHOLD INCOME 1-MILE 3-MILE 5-MILE

2018 Median Household Income $42,115 $53,054 $46,167

2023 Median Household Income $47,329 $57,935 $51,909

2018-2023 Annual Rate 2.36% 1.78% 2.37%

AVERAGE HOUSEHOLD INCOME

2018 Average Household Income $62,143 $76,614 $69,336

2023 Average Household Income $69,574 $85,203 $77,668

2018-2023 Annual Rate 2.28% 2.15% 2.30%

PER CAPITA INCOME

2018 Per Capita Income $25,787 $31,585 $28,560

2023 Per Capita Income $28,582 $34,981 $32,027

2018-2023 Annual Rate 2.08% 2.06% 2.32%

EDUCATION

Associate’s Degree 5.7% 6.5% 5.6%

Bachelor’s Degree 23.1% 25.5% 24.8%

Graduate/Professional Degree 13.8% 21.0% 21.9%

RACE/ETHNICITY

White Alone 39.0% 50.4% 48.1%

Black Alone 40.3% 34.4% 33.8%

Hispanic Origin 21.4% 13.5% 15.8%

AGE

18+ 77.1% 71% 75.6%

55+ 22.3% 29% 24.3%

EMPLOYMENTTotal Employees 4,560 26,545 55,763


5711 Lumley Road

HIGHER EDUCATION INSTITUTIONS

1

2

Institution Undergraduate Students

Graduate Students

1. Duke University 6,532 8,660

2. North Carolina State University 24,111 9,904

3. The University of North Carolina Chapel Hill 19,117 8,417

4. Campbell University Law School 4,676 1,637

5. Meredith College 1,981 -

6. North Carolina Central University 6,355 1,742

7. St. Augustine’s University 1,508 -

8. Shaw University 1,505 -

9. William Peace University 1,077 -

10. Southeastern Baptist Theological Seminary / The College at Southeastern

5,067 -

11. Wake TechnicalCommunity College 70,000+ -

12. Durham TechnicalCommunity College 5,605 -

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Apex


5711 Lumley Road

NOTABLE RETAIL CENTERS

12

Retail Center Square Footage Year Built Anchors / Major

Tenants

1. Brier Creek 800,000 2002Target,TJ Maxx, Dick’s Sporting Goods

2. The Streets at Southpoint 1,330,000 2002

Nordstrom, Ma-cy’s, Apple, Crate & Barrel

3. Crossroads Plaza 250,000 SF 1992

Dick’s Sporting Goods, Bed Bath and Beyond, Best Buy

4. Arboretum 92,000 SF 2003

Ruth’s Chris, Bonefish, BurgerFi, World of Beer

5. Crabtree Valley Mall 1,326,000 SF 1972 Macy’s, Best Buy,

Old Navy, Sears

6. Midtown East 174,000 SF Under Con-struction

Wegman’s, Trad-er Joe’s, Costco

7. Cameron Village 557,936 SF 1949, 1980,

2002

The Fresh Market, Harris Teeter, Rite Aid, Ann Taylor

8. North Hills 988,500 SF 1967, 2007 Target, Regal Cinemas, Hyatt

9. Triangle Town Center 1,272,263 SF 2002

Belk, Dillards, Sears, Macy’s, Saks Fifth Ave

10. Beaver CreekCrossing 320,629 SF 2006

Lowes Food, Tar-get, AC Moore, Kohl’s

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Apex


5711 Lumley Road

EMPLOYMENT HUBS1. Downtown Durham has successfully transformed its business and economic landscape from one based upon tobacco and textile products to a modern, cutting-edge economy. GlaxoSmithKline and Cree are just some of the forward-thinking companies that have headquarters in Durham. Downtown specifically has become a destination location for employers.

2. Internationally-recognized Research Triangle Park is the oldest research park in America and one of the top in the world. It is comprised of 7,000 acres and 200 companies with over 50,000 employees. Home to names such as IBM, Cisco Systems, Syngenta, RTI International, and Credit Suisse, these organizations invest a combined annual payroll of $2.9 Billion dollars.

3. Consistently ranked one of the best places to live and work, the suburb of Cary is a thriving community in the heart of the Triangle and home to national companies such as Deutsche Bank, Kelloggs, Siemens, RIM, and John Deere. Cary has an extremely talented workforce, with 60% of its residents having a bachelor degree or higher.

4. Downtown Raleigh is home to some of the most influential tech companies in the Triangle, including Red Hat and Citrix, as well as a rapidly growing population, amazing cultural institutions, risk-taking entrepreneurs, and award-winning restaurants. There has been over $3 Billion completed, under construction, and planned projects in the Raleigh’s downtown in less than ten years. Additionally, there is exponential growth in coworking space in Downtown Raleigh and Durham alike.

1

4

2

3

Apex


5711 Lumley Road

RESEARCH TRIANGLE PARK

Research Triangle Park (RTP) is the leading and largest high technology research and science park in North America.

Founded in 1959, this 7,000-acre namesake for the entire Triangle region is two miles wide and eight miles long, based in Durham with an extension now spilling into Wake County toward Cary and Morrisville.

Just four miles from Downtown Durham and encompassed on three sides by the City of Durham, RTP was originally named for its affi liation with three major research universities: Duke University in Durham, the University of North Carolina at Chapel Hill, and North Carolina State University in Raleigh. This part of Durham is approximately equidistant between Raleigh and Chapel Hill.

Originally envisioned by UNC’s Howard W. Odum and fostered by the administration of Durham native Governor William Umstead, the Park was developed by the Research Triangle Foundation in 1959 and now includes over 170 companies, 42,000 full time employees, and 10,000 contract workers.

The three original universities are joined by Durham’s North Carolina Central University

(located less than two miles from RTP), playing a major role as home to the Biomanufacturing Research Institute & Technology Enterprise (BRITE) Center for Excellence.

Today, RTP is surrounded by a variety of other Durham business and corporate parks populated by pharmaceutical, microelectronic, biotechnology, telecommunications, and textile businesses to name a few. Research Triangle Park is not a city, but it has a special Durham postal substation – Research Triangle Park, NC 27709. It exists in a special county district, serviced by Durham utilities.

The map at left represents the top employers in the Durham portion of RTP. For more information and complete listings of RTP companies and organizations, visit www.rtp.org.

The Research Triangle Park

Reichhold, Inc./IEM

National Institute of Statistical Sciences

Grifols, Inc

Medicago

Nortel Networks/Avaya

Fidelity Investments

To Hwy 54/55 Lodging & Dining Cluster

Lodging & Dining Cluster

Where great innovations happen

Durham

RTP

County

City

For other publications and information on the great things to see and do in Durham, speak with a friendly information specialist at the Durham Visitor Information Center at 101 E Morgan St in Downtown Durham. (919) 687-0288 or (800) 446-8604. 8:30am-5pm, M-F; 10am-2pm, Sa.

Or visit www.durham-nc.com, the offi cial Durham website for visitors and newcomers, featuring searchable listings, event calendar, maps, live chat, and more.

Convention & Visitors Bureau

101 E Morgan St, Durham, NC 27701 USA(919) 687-0288 | (800) 446-8604FAX (919) 680-8340www.durham-nc.com

AN ACCREDITED DESTINATION MARKETING ORGANIZATION

1 2 E X E M P L A R Y C I TAT I O N S



Just four miles from Downtown Durham and encompassed on three sides by the City of Durham, RTP was originally named for its affiliation with three major research universities: Duke University in Durham, the University of North Carolina at Chapel Hill, and North Carolina State University in Raleigh. This part of Durham is approximately equidistant between Raleigh and Chapel Hill.


The three original universities are joined by Durham’s North Carolina Central University (located less than two miles from RTP), playing a major role as home to the Biomanufacturing Research Institute & Technology Enterprise (BRITE) Center for Excellence.

Today, RTP is surrounded by a variety of other Durham business and corporate parks populated by pharmaceutical, microelectronic, biotechnology, textile, and telecommunications, businesses to name a few. Research Triangle Park is not a city, but it has a special Durham postal substation – Research Triangle Park, NC 27709. It exists in a special county district, serviced by Durham utilities.



Just four miles from Downtown Durham and encompassed on three sides by the City of Durham, RTP was originally named for its affi liation with three major research universities: Duke University in Durham, the University of North Carolina at Chapel Hill, and North Carolina State University in Raleigh. This part of Durham is approximately equidistant between Raleigh and Chapel Hill.


The three original universities are joined by Durham’s North Carolina Central University

(located less than two miles from RTP), playing a major role as home to the Biomanufacturing Research Institute & Technology Enterprise (BRITE) Center for Excellence.

Today, RTP is surrounded by a variety of other Durham business and corporate parks populated by pharmaceutical, microelectronic, biotechnology, telecommunications, and textile businesses to name a few. Research Triangle Park is not a city, but it has a special Durham postal substation – Research Triangle Park, NC 27709. It exists in a special county district, serviced by Durham utilities.

The map at left represents the top employers in the Durham portion of RTP. For more information and complete listings of RTP companies and organizations, visit www.rtp.org.

The Research Triangle Park

Reichhold, Inc./IEM

National Institute of Statistical Sciences

Grifols, Inc

Medicago

Nortel Networks/Avaya

Fidelity Investments

To Hwy 54/55 Lodging & Dining Cluster

Lodging & Dining Cluster

Where great innovations happen

Durham

RTP

County

City

For other publications and information on the great things to see and do in Durham, speak with a friendly information specialist at the Durham Visitor Information Center at 101 E Morgan St in Downtown Durham. (919) 687-0288 or (800) 446-8604. 8:30am-5pm, M-F; 10am-2pm, Sa.

Or visit www.durham-nc.com, the offi cial Durham website for visitors and newcomers, featuring searchable listings, event calendar, maps, live chat, and more.

Convention & Visitors Bureau

101 E Morgan St, Durham, NC 27701 USA(919) 687-0288 | (800) 446-8604FAX (919) 680-8340www.durham-nc.com

AN ACCREDITED DESTINATION MARKETING ORGANIZATION

1 2 E X E M P L A R Y C I TAT I O N S

Source: Durham Convention & Visitors Bureau


5711 Lumley RoadMORRISVILLE UDO

Accommodating Future Growth. Future increases in population and employment will increase demand for land development and redevelopment. Housing demand will be reflected in proposals for new subdivisions, apartment complexes and adaptive reuse of older structures. Businesses will need land and buildings for retail activities, offices, personal and professional services, research and manufacturing. How Durham plans for the changing uses of land to accommodate our expected growth will significantly influence our community’s future quality of life. Redevelopment opportunities in strategic locations should be encouraged.

Urban Density and Historic Neighborhoods. Triangle Transit is planning its Regional Rail transit services through the heart of Durham. Several of its rail stations are located adjacent to historic Durham neighborhoods. Regional transit stations, especially the station in Downtown Durham, will be a major draw for new large‐ scale development, and can help Durham attract valuable new higher density transit‐oriented development.

Local Historic Landmarks. The local historic landmark program is intended to identify, protect, and preserve the most noteworthy historic properties within Durham. Durham should identify and protect those resources that are important to the community as a whole and represent the most significant aspects of our history, culture, architecture, and persons.

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This map was produced with the GIS resources of the Planning Departmentof the Town of Morrisville to provide support for community planning.This map comprises information from multiple sources. Source informationused for this map may have been collected at different scales, times ordefinitions, resulting in inconsistencies among features represented togetheron this map. The Town of Morrisville assumes no liability for damages causedby inaccuracies in this map or supporting data. The Town of Morrisville makesno warranty, expressed or implied, as to the accuracy of the informationpresented, nor does the fact of distribution constitute such a warranty.

April 2019

TOWN OF MORRISVILLE ZONING

LegendRoads

Morrisville Jurisdiction

Parcels

Airport Overlay-A

Airport Overlay-B

Transit Oriented Development Overlay

Parks/Greenways/Open Space (PGO)

Very Low Density Residential (VLDR)

Low Density Residential (LDR)

Medium Density Residential (MDR)

Conditional Medium Density Residential (C-MDR)

High Density Residential (HDR)

Conditional High Density Residential (C-HDR)

Neighborhood Activity Center (NAC)

Conditional Neighborhood Activity Center (C-NAC)

Business Activity Center (BAC)

Conditional Business Activity Center (C-BAC)

Community Activity Center (CAC)

Regional Activity Center (RAC)

Historic Crossroads Village (HCV)

Main Street (MS)

Conditional Main Street (C-MS)

Town Center Commercial (TCC)

Town Center Residential (TCR)

Residential Transition (RT)

Conditional Residential Transition (C-RT)

Residential Neighborhood Preservation (RNP)

Corridor Commercial (CC)

Office/Institutional (OI)

Conditional Office/Institutional (C-OI)

Industrial Management (IM)

Conditional Industrial Management (C-IM)

Mixed Use Planned Development (MUPD)

±

0 0.5 10.25 Miles

TOWN OF MORRISVILLE ZONINGAS DEFINED IN THE MORRISVILLE UNIFIED DEVELOPMENT ORDINANCE


5711 Lumley Road

RESEARCH TRIANGLE PARK

MAJOR EMPLOYERS IN THE TRIANGLE

10,000 + EMPLOYEES

• Duke University and Medical Center• University of North Carolina• IBM

2,500+ EMPLOYEES

• PPD• RTI International• Grifols• Lenovo• Cree Inc.• Iqvia• Credit Suisse• GSK• Fidelity Investments• GSK• SAS Institute• Durham Public Schools• Blue Cross & Bule Shield of NC• Cisco Systems• Verizon• RTI International• PPD• Teleflex Medical

1,000+ EMPLOYEES

• Lenovo• Cree• Fidelity Investments• Quintiles Transnational• Environmental Protection Agency• Lowes Foods• Kroger• Food Lion• RBC Center• UPS• Harris Teeter• First Citizens Bancshares• Longistics• Wake Technical Community College• Lowes• Town of Cary• ACS• Target• Wal-mart• Waste Industries

>> 50,000 High-tech employees>> 50% Associates degree or higher>> 47% Bachelors degree or higher>> 18% Graduate degree or higher

>> 220 Companies>> 245 start-ups>> 3,256 patents>> 1,970 trademarks

Source: The Research Triangle Park


5711 Lumley RoadDISCLAIMER

This Offering Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the "Owner") to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and Colliers International RDU. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Offering Memorandum in any manner.

Neither the Owner or Colliers International RDU, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Offering Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner's obligation therein have been

CONFIDENTIALITY AGREEMENT

This is a confidential Offering Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. By receipt of this Offering Memorandum, you agree that this Offering Memorandum and its contents are of a confidential nature, that you will hold and treat it in strictest confidence and that you will not disclose this Offering Memorandum or any of its contents to any another entity without the prior written authorization of the Owner or Colliers International RDU. You also agree that you will not use this Offering Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Colliers International RDU. If after reviewing this Offering Memorandum, you have no further interest in purchasing the Property, kindly return this Offering Memorandum to Colliers International RDU.

DISCLAIMER

The information contained in this document has• been obtained from sources believed reliable. While Colliers International RDU does not doubt its accuracy, Colliers International RDU has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Colliers International RDU and the Colliers International logo are service marks of Colliers International and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

AFFILIATED BUSINESS DISCLOSURE

Colliers International RDU operates within a global family of Colliers companies with many subsidiaries and/or related entities (each an "Affiliate") engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. In some cases. The names of these Affiliates show no reference to the Colliers Affiliation. At all times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Offering Memorandum may be received by our Affiliates, including AACRE Properties, LLC; AACRE, LLC. Those, or other, Affiliates may express an interest in the property described in this Offering Memorandum (the "Property") may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither Colliers International RDU nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, Colliers International RDU will act in the best interest of the client(s) it represents in the transaction described in this Offering Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Offering Memorandum.


5711 Lumley Road

Morrisville, NCLumley Road5711

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Michael WildenbergSenior Property ManagerDIR +1 919 264 [email protected]

Milos Radojkovic Vice President DIR +1 919 282 [email protected]

lumley road 5711 morrisville, nc...colliers international | 7 5711 lumley road demographics...

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