- CASTO Acquires Red Robin and Lone Star Steakhouse at Indigo Corners in Durham, North Carolina
- Tuesday, April 3, 2007
- Columbus, OH — CASTO, one of the country's leading real estate organizations, recently purchased the Red Robin and Lone Star Steakhouse at Indigo Corners in Durham, North Carolina. Located less than one mile from I-40 off of Hwy. 15/501, this growing area is also home to Duke University and is two miles west of Chapel Hill, home of the University of North Carolina. Red Robin, which opened in November 2006, is a 1.54 acre parcel and Lone Star Steakhouse, which is on 1.67 acres, is scheduled to open this summer. Indigo Corners is an upscale shopping center that provides the community with new and exciting shopping and dining opportunities. Other tenants at Indigo Corners include Carrabba's, Starbucks and Verizon Wireless, among others. The total population within a 3-mile radius of the center is 36,391 with an average household income of $85,7487. "We are very excited to add these two outparcels to our growing Carolina portfolio," said Don M. Casto, III, parter at CASTO. "Both of these restaurants bring great value to the Indigo Corners shopping center with the high volume of traffic they generate for the center." Operations for these outparcels will be managed by CASTO's Morrisville/Cary office at 9705 Chapel Hill Road, Morrisville, North Carolina 27560, 919.467.8880. CASTO's portfolio in the Carolinas totals more than 1.5 million square feet of retail space, including the ownership of University Commons in Burlington, Hanes Point in Winston-Salem, University Place in Charolotte, Coddle Creek Market in Concord, Morrison in Charlotte, Regency Village in Charlotte, Stone Creek Village Phase I in Cary and Renaissance Village in Durham. ABOUT CASTO CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences, office buildings and corporate parks. CASTO's growing portfolio currently includes over 20 million square feet of commercial property and nearly, 4,400 resiential units located primarily throughout the midwestern and southeastern United States. Casto Lifestyle Properties, an affiliate company of CASTO, is based in Sarasota, Florida and focuses on the development of mixed-use lifestyle centers. To learn more about CASTO and its properties, call 614.228.5331 or visit www.castoinfo.com.
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