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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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.
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.
