A lender to the previous owner moved to foreclose on the property in November after the owner defaulted on a
The loan was originally made in 2003 by
A limited liability company connected to
"In general, we do really like the (metro area), and feel strongly about the property," said
The foreclosure and sale did not appear to affect building tenants like G2B and
They were "awesome and very helpful and on board with us from the beginning," he said.
The building has housed a series of restaurants in a back-facing ground floor space where G2B now operates. Restaurants that have come and gone there include Starlu, Restaurant Eden and A Seasoned Ticket, a restaurant co-owned by a son-in-law of Mike Krzykewski. That restaurant closed in 2001.
Built in 1998, South Court was in the planning stages when the
Retail and office space vacancy rates were lower in southern
According to a the market research firm Karnes, about 40 percent of the 146,000 square-foot South Court building was vacant as of
Office space in the South Durham market, which includes the Southpoint mall area, was 19 percent vacant for the in the first quarter, according to Karnes. Retail space in the South Durham market was 4.6 percent vacant in the quarter.
The building is being marketed and managed by the firm Lincoln Harris. According to a news release from the firm, the building also houses offices for
"This is an outstanding property, and combining the appeal of this asset with our team's experience and expertise will ensure that we deliver outstanding value and returns to our landlord client,"
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