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Durham Commercial Sales Data: University Hill and Washington Street Reveal Market Conditions

Sales and listings in University Hill, southwest Durham and on Washington Street supply concrete figures for commercial property buyers assessing current conditions.

By Durham Property Desk · Published July 18, 2026

How we reported this

This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. The Daily Durham is part of The Daily Network and follows our reasonable editorial care.

Durham Commercial Sales Data: University Hill and Washington Street Reveal Market Conditions — Storyblocks

SouthCourt, a 140,000-square-foot office building in University Hill, sold for $11.8 million, roughly half its 2022 price.

University Hill Sale Details

The transaction occurred amid rising vacancy rates across Durham office properties. Buyers examining University Hill now have a documented benchmark for pricing on larger buildings in that neighbourhood. The sale price reflects the discount applied in the current market environment.

Southwest Durham Listing

The 17-story University Tower in southwest Durham is listed for sale at $18 million. It has 35 percent occupancy even though its assessed value stands at $30.4 million. This listing gives buyers a second priced example in another Durham neighbourhood for comparison with University Hill properties.

Washington Street Acquisition

Chartwell Property Group acquired a remodeled former warehouse on Washington Street for $3.7 million. The building has been converted into Class A life sciences and creative office space that remains unoccupied. This transaction provides buyers with a recent price point for adaptive reuse projects on that street.

Market Metrics Buyers Can Use

Durham's office vacancy rate is approximately 9.8 percent according to CoStar Group data, lower than Raleigh's 11.1 percent and the 14.1 percent national average. Over the past 12 months Durham recorded negative net absorption of about 480,000 square feet while Raleigh recorded positive absorption of 574,000 square feet. These figures allow buyers to weigh local absorption trends against vacancy levels when reviewing University Hill, southwest Durham or Washington Street opportunities.

Buyers should review the full set of sale prices, occupancy rates and absorption numbers against their own requirements for space size and location before making offers.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.