Industrial Developer Completes Wilmington Venture23 Warehouse Project

October 20, 2023

// WILMINGTON BUSINESS JOURNAL

On 23rd Street in Wilmington, a development firm's office-to-warehouse conversion project is now complete and filled with tentants.

Edgewater Ventures recently executed leases at 1519 N. 23rd Street totaling 57,940 square feet to bring the 110,134 square foot building to 100% occupancy, according to a news release.

Marmolite Marble & Granite leased 28,390 square feet and Alcami Corp., a Wilmington-based drug development and manufacturing company, expanded within the building by 29,550 square feet, the release stated.

Edgewater Ventures bought the property in May 2022 for $6 million. In addition to converting 57,940 square feet from office space to warehouse space, the company also painted the facility, made repairs to the parking areas and rebranded the property as Venture 23, according to the release.

SPREAD THE NEWS

A row of trailers are parked in front of a building.

Cushman & Wakefield Brokers $17.5M Sale of Industrial Portfolio in Laurel Hill, NC

By Duda Widget • April 16, 2025
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 large brick building with cars parked in front of it

Law firm renews lease near Raleigh’s North Hills mixed-use district

By Duda Widget • April 11, 2025
A regional law firm has signed a renewal for its longtime headquarters in Raleigh, North Carolina.
A large Midwood Charlotte building with a lot of windows is sitting on the corner of a street.

Charlotte developer sells Plaza Midwood office

By Duda Widget • December 16, 2024
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."
MORE NEWS