Franklin Park

Unlock a prime Chapel Hill opportunity with two Franklin Street office buildings offering strong upside, an unbeatable location near UNC, and enduring long-term property value priced far below replacement cost.

Avison Young and Foundry Commercial are pleased to present a rare opportunity for investors to acquire 1512 & 1516 Franklin Park – two high-quality office buildings located on Chapel Hill’s iconic Franklin Street. Together, the buildings total 50,390 square feet and sit on 4.67 beautifully maintained acres in one of the most desirable and supply-constrained areas in the Triangle.

Currently 41.2% leased, this offering presents extraordinary upside through lease-up and hands-on asset management. As part of the Franklin Park Association – a detached land condominium – an incoming owner would control over 85% of the association – offering a rare level of control and flexibility for future decision-making.

Just two miles from UNC-Chapel Hill, the site offers excellent access to the university, downtown Chapel Hill, and a wide range of nearby amenities including Village Plaza, University Place, and numerous dining, retail, and healthcare options. This infill location also provides quick access to I-40, making it easy to reach Durham, RTP, RDU Airport, and other key business hubs throughout the Triangle and Triad regions.

Built between 1996 and 1997, both buildings have been professionally managed and well cared for over the years. Tenants benefit from the landmark location and excellent visibility with monument signage on Franklin Street (23,000 vehicles per day), and a generous parking ratio of 3.4 spaces per 1,000 SF, including 20 covered, reserved spaces. The recent giveback of Suite 200 at the 1512 Building presents a valuable opportunity to accommodate a full-floor tenant or strategically demise the space to maximize absorption and attract a diverse tenant mix.