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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Cushman & Wakefield has brokered the $17.5 million sale of a two-property industrial portfolio in Laurel Hill. Situated at 18300 and 18400 Fieldcrest Road, the property is within 100 miles of the Port of Wilmington and is fully leased to High Life LLC, an apparel manufacturer based in New York City.
A regional law firm has signed a renewal for its longtime headquarters in Raleigh, North Carolina.
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."
