Construction Begins for New Office and Retail Building in Downtown Durham
DURHAM, NC – Measurement Durham LLC, a spin-off from Measurement Incorporated, announced today that it has formed Measurement Building LLC in order to construct and finance a new 74,000 square foot, Class A office and retail facility in Downtown Durham. “The Measurement Building” will be located at 404 Hunt Street, at the corner of Hunt and Morris Streets. This location is adjacent to the Durham Farmers Market and Durham Central Park and is one block south of the Historic Durham Athletic Park.
Construction will begin in July 2011 and completion is expected by July 2012. The building will be five stories tall with a red-brick exterior, five ground floor retail bays, and flexible office layouts.
Measurement Incorporated (MI), which owns and occupies several other facilities nearby, will be the major tenant, but approximately one half of the building will be leased to other tenants, including the award-winning Urban Planet Mobile. Negotiations are in progress with several other potential tenants.
“We are very pleased to facilitate MI’s continued investment in Downtown Durham,” said Bryan Scherich, Director of Operations and Development for Measurement Durham LLC. MI moved its headquarters downtown in 1994 after purchasing and renovating the BC Remedy Building. It has since expanded into two other renovated, historic facilities within two blocks: the Brodie Duke Building and the Imperial Tobacco Building.
The Measurement Building will be the first building constructed as part of a larger development planned for the city block bordered by Hunt, Morris, and Corporation Streets and Durham Central Park. The development is being branded as Morris Ridge.
Capital Bank is providing financing for the Measurement Building. Choate Construction Company will be the general contractor. Other companies involved in the project are Hoke/New Vision Architects, Civil Consultants, and Comfort Engineers.
About Measurement Incorporated
Measurement Incorporated (MI) is an employee-owned corporation that contracts with state and local departments of education, professional certification boards, and private businesses primarily to develop and score educational and professional examinations. Founded in Durham in 1980, the company maintains its headquarters in three renovated, historic buildings in downtown and maintains twelve other offices in nine states. It employs a full-time staff of almost 400 in addition to thousands of seasonal employees.
About Measurement Durham LLC
Measurement Durham LLC is a real estate development spin-off of Measurement Incorporated (MI) that has been charged with developing certain properties in Downtown Durham in accordance with MI values.
Director of Operations
Measurement Durham, LLC
Development Director of Planning and Finance
Measurement Durham, LLC
A rendering of The Measurement Building planned for 404 Hunt Street, Durham, NC