Construction Begins On Second Wilmington Trade Center Building
July 22, 2022
// WILMINGTON BUSINESS JOURNAL
WILMINGTON – Crews have started building a second industrial facility at Wilmington Trade Center on U.S. 421 in New Hanover County, expecting to add supply to a busy real estate sector.
Edgewater Ventures, in partnership with Wilmington-based McKinley Building Corp., recently completed the first 157,610-square-foot building at the center and construction is underway on Building 2, a virtually identical structure, according to a news release Thursday.
Chris Norvell, of Edgewater Ventures, said the second building would help its developers "capitalize on the momentum in the park with our recent leases to PaperFoam and Coastal Carrier.”
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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."
