Print
Real Estate - Commercial

Professional Builders Supply Closes On U.S. 421 Property In $5.5M Deal

By Cece Nunn, posted Feb 7, 2018
Professional Builders Supply has completed the purchase of the U.S. 421 property and facility it moved into in 2016. (Photo courtesy of Professional Builders Supply)

Professional Builders Supply has completed the purchase of the U.S. 421 property where the company moved its Wilmington operations in 2016.

The firm bought the 10-acre property at 3941 U.S. 421, including a 50,000-square-foot facility built by McKinley Building Corp., in a $5.5 million transaction, according to the deed. The previous owner was Seamist Properties LLC.

"It's a great location especially since the last leg of I-140 opened," said Van Isley, Professional Builders Supply CEO, referring to the Wilmington bypass that opened in December and connects U.S. 17 in Brunswick and New Hanover counties. "We do quite a bit of business down in Brunswick County, so it shaved 10 to 15 minutes off that run, which is big. It's all about efficiency."

The bypass has been hailed as a key piece of transportation infrastructure for the region's economic development efforts. In January, officials approved a nearly $12.8 million construction contract for the planned U.S. 421 water and sewer utility project that is expected to make the industrial corridor more attractive to potential employers.

Professional Builders Supply, founded in Raleigh in 2003, opened a Wilmington location in 2009. The firm sells building supplies mainly to single-family homebuilders with some multifamily customers, Isley said in a previous Greater Wilmington Business Journal story.

Purchasing the U.S. 421 property was part of the plan when the company moved from Military Cutoff Road in Wilmington into the new facility in November 2016, Isley said. The company had at least 30 employees in its Wilmington branch at that time and has been able to add about a dozen employees to its roster since the move, he said. 

Isley said he hopes the construction boom of recent years, which has been particularly evident in Brunswick County, will continue.

"There are definitely some challenges, in that pricing across the board continues to increase whether it be labor or materials or land prices and the combination of all that with some additional bumps in the interest rate could be cause for concern," Isley said Tuesday. "Obviously the stock market doing what it did yesterday could have some impact on Northeasterners relocating to Brunswick County, so we just kind of have to wait and see."

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Leath 683x10242

Effort is Attractive: Get the Talent

Lisa Leath - Leath HR Group
Chris coudriet headshot 300x300 10211545555

For These Things and More, I Am Thankful

Chris Coudriet - New Hanover County Government
Susan 2 april242017

Think Ahead to Weigh Long-Term Care Insurance and Alternatives

Susan Willett - Old North State Trust, LLC

Trending News

A First Look At Wilmington Brewing Co.'s Event Venue

Cece Nunn - Nov 15, 2018

Two Wilmington Businesses Win NC TECH Awards

Johanna Cano - Nov 16, 2018

Tides Changing For Hampstead Boatbuilder

Christina Haley O'Neal - Nov 16, 2018

County Lines Blur For Businesses In Onslow, New Hanover

Cece Nunn - Nov 16, 2018

N.C. Ports Plans Another Turning Basin Expansion In 2019

Christina Haley O'Neal - Nov 16, 2018

In The Current Issue

Tourism Officials Work To Bring Visitors Back

As the region continues to recover from Hurricane Florence, the Wilmington and Beaches CVB recently announced a plan to get the industry bac...


A Rising Interest In Rising Rates

Local and national real estate observers weigh in on what interest rate hikes might do on home buying activity....


Info Junkie: A. Kevin Lackey

Info Junkie Kevin Lackey, business development manager for Brunswick Business & Industry Development, on his tech and app recommendations....

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast - Dishing on the Restaurant Biz
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes