Real Estate - Commercial

Aug 25, 2022

Developers gathered community input this week about the look of a mixed-use project coming soon to Carolina Beach. The Proximity at Carolina Beach by Cape Fear Development is expected to include apartments, offices and other commercial space, including retail establishments and restaurants on vacant property at Lake Park Boulevard and St. Joseph Street.  Current ...

Aug 22, 2022

Marketing materials provided to some professionals in the local commercial real estate industry provide a glimpse of what the future could hold for PPD's former headquarters building in downtown Wilmington. Pharmaceutical firm Thermo Fisher Scientific, which purchased PPD in a $17.4-billion deal last year, announced in April that it was planning to explore opportuni ...

Aug 12, 2022

Murchison Building Downtown Sold For $8.25M

By Johanna F. Still, posted Aug 12, 2022

The historic Murchison building in downtown Wilmington is under new ownership.  Real estate investment firm Bush Watson purchased the property for $8.25 million on Aug. 10, a company representative confirmed Friday.  Cape Fear Commercial announced the sale Thursday, citing Paul Loukas and Lindsey Hess as representing the buyer in the transaction. The buyer ...

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Girard Newkirk
Genesis Block

Genesis Block Academy Launches September 2022

Posted Aug 18, 2022

Genesis Block is honored to have been selected by the Diversity in Clean Energy (DiCE) Coalition to build an online platform that promotes diverse-owned businesses in the clean energy industry. The purpose of the DiCE coalition is to drive towards more diverse, inclusive and equitable practices in the sourcing, supply chain and supplier selections across the clean energy value chain of entire article

Aug 10, 2022

Construction is commencing at a new Lowe’s Home Improvement store in Leland Town Center, a multi-phase development off U.S. 17.  Lowe’s and property owner C&S Commercial Properties reached a deal at the end of June, according to Palmer Williams, vice president of the Fayetteville-based development firm.  Lowe’s Home Centers LLC submitt ...

Aug 10, 2022

Galleria Property On Wrightsville Ave. Sold For $37.5M

By Cece Nunn, posted Aug 10, 2022

Charlotte-based State Street Companies sold the former Galleria Shopping Center on Wrightsville Avenue for $37.5 million, according to a news release. The buyer of the 17-acre site, Haven at the Galleria LLC, is an affiliate of Johnson Development Associates (“JDA”) of Spartanburg, South Carolina, which also owns the Holiday Inn hotel at Wrightsvil ...

Aug 5, 2022

Commercial Tenants Navigate Rent Spikes

By Cece Nunn, posted Aug 5, 2022

Parker Wilson, owner of a company that makes all-natural cleaning products, unintentionally missed a deadline for letting her landlord know she wanted to renew her lease.   As a result, she faced the expensive possibility of having to move the base of operations for her business, SQUEAK, from Netherlands Drive in Dutch Square off Market Street to a new location. &n ...

Aug 5, 2022

The owner of an historical landmark in downtown Wilmington is seeking permission from a city panel to tweak a previously approved redevelopment plan. Stamatia “Nick” Saffo of Global Property Holdings and Saffo Contractors and architect Rob Romero are asking the Wilmington Historical Preservation Commission for a height increase from about 18 feet to 35 feet ...

Jul 29, 2022

A New York-based real estate firm is making progress toward creating a modern industrial park on U.S. 421 after buying an 80-acre site last month. Officials with Treeline, which develops and invests in office, multifamily and industrial properties, said in a news release this week that they have signed on their first tenant in Treeline Industrial Park, 28 ...

Jul 21, 2022

Crews have started building a second industrial facility at Wilmington Trade Center on U.S. 421 in New Hanover County, expecting to add supply to a busy real estate sector. Edgewater Ventures, in partnership with Wilmington-based McKinley Building Corp., recently completed the first 157,610-square-foot building at the center and construction is underway on Building 2, a ...

Jul 19, 2022

A Chapel Hill-based conservation group has entered into a tentative purchase agreement with a developer planning a large commercial project on the Cape Fear River.  Diamondback Development voluntarily entered into a purchase contract with Unique Places to Save, the nonprofit group shared in a press release Tuesday. The contract entails the developer’s 83 acre ...

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