Investors Pay $9.2M For Wilmington Industrial Property
April 16, 2020
// Wilmington Business Journal
A commercial real estate investment firm with properties throughout the Carolinas recently completed its fourth Wilmington-area industrial acquisition.
Edgewater Ventures
bought the 240,000-square-foot distribution facility at 421 Landmark Drive near the Port of Wilmington for $9.2 million, according to the deed dated April 3.
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Tim Skender, principal at Edgewater, said the acquisition was a good opportunity in a submarket that is thriving. "We’re big believers in lifestyle office or neighborhood office," he said. "1800 Central is well-located, in a dynamic, growing (submarket) where the neighborhood is the amenity for the people who office there. There’s a lot of momentum in Plaza, broadly speaking."
Following two recent leases, another building in the Wilmington Trade Center, a growing industrial park along U.S. 421, is at full occupancy.
Edgewater Ventures is pleased to announce the addition of Joey Surles, to the Edgewater Industrial team as their Senior Property Accountant.
