Success Story Imperial Point
Durham, NC
Goal
Develop a first class restaurant within the Research Triangle Park submarket in response to an unmet market need. Create a sound joint venture investment between The Chapel Hill Restaurant Group and Morris Commercial.
Morris Commercial Approach
- Conduct a market feasibility study on a specific desirable 3.5 acre property at the corner of Page and Slater Roads across from Imperial Center and a block from I-40.
- Develop 10,000 sf of space for the restaurant designed and built to LEED standards and 10,000 sf of additional space for lease to complementary users including Starbucks and FedEx Kinko’s.
- Serve as co-owner, developer, leasing agent and property manager.
The Result
A vibrant, well-designed and developed service center anchored by the highly popular MEZ Contemporary Mexican restaurant – one of North Carolina’s first LEED (Leadership in Energy and Environmental Design) designed restaurants. The combination of MEZ with a solid mix of successful retail and office users achieved a sound real estate investment for both Morris Commercial and the Chapel Hill Restaurant Group.
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