Wilmington Distribution Center Sells In Multi-million Dollar Deal

June 16, 2022

// WILMINGTON BUSINESS JOURNAL

WILMINGTON– Investors who have been buying and developing millions of square feet of industrial real estate in the Cape Fear region bought a distribution center Tuesday near Wilmington International Airport.

Edgewater Ventures purchased the 210,000-square-foot facility at 802 N. 23rd St. from Buena Vista Sun LLC for more than $9.4 million, according to the deed. The center is fully leased by existing tenants MCO Transport Inc. and Atlantic Packaging.

Buena Vista Sun LLC is managed by former state legislator Daniel “Danny” McComas of MCO Transport, according to state records.

Chris Norvell, lead industrial partner at Edgewater Ventures, said a big part of what attracted his firm to the purchase is its location – less than a mile from the entrance to Wilmington International Airport.

He said the property is suited for those who need access to the airport and meets infill, last-mile distribution needs throughout the market. Will Leonard of Wilmington-based commercial real estate firm Cape Fear Commercial represented Edgewater in the acquisition.

SPREAD THE NEWS

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