Two Signed Leases, $120M Investment Announced At ILM Business Park
November 4, 2021
// WilmingtonBiz
WILMINGTON– Two companies are joining the ILM Business Park, airport officials announced in a press conference Thursday morning.
Edgewater Ventures and CIL Capital LLC will bring a combined $120 million in investment to the New Hanover County Airport Authority's park through two separate projects.
The authority board approved both leases at its meeting Wednesday evening.
CIL Capital signed a long-term ground lease and intends to construct a 500,000-square-foot storage and distribution facility for the life sciences industry.
For additional coverage:
WWAY.COM - New businesses coming to ILM Business Park with a $120 million investment
WECT.COM - Two companies select ILM Business Park for development projects
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Edgewater Ventures paid $25 million for 601 Keystone Park Drive in Morrisville, according to Durham County deed records. The acquisition was a joint venture with Optimum Asset Management, which has offices in Boston and Europe.
The first phase of Wilmington Trade Center, a master planned industrial park on U.S. 421, recently wrapped up, while work on the next phase is now underway.
A Longs-area industrial park that currently serves Amazon and Pepsi distributors plans to expand with a 60-acre acquisition, offering more space for industries to step into Horry County.
