After nearly a year of planning, officials with Wilmington-based Oleander Company will be ready to roll out the welcome mat in July for their newest development — Tiburon Parc.

Located near some of Wilmington’s most established commercial corridors, the new 105-acre, class-A office development has the capacity to accommodate more than 650,000 square feet of new office space on 13 parcels of land that range between 2.5 acres and 6 acres.

Tiburon Parc also has more than 15 acres dedicated for future multi-family development fronting Independence Boulevard, and additional acreage set aside for wetland preservation.

Jim Smith, development manager with the Oleander Company overseeing the project, said his firm hired the Wilmington division of Clancy & Theys to complete the $1.25 million in infrastructure upgrades to the property.

“Right now they are putting in a road that will connect Independence to Shipyard via Pickard,” Smith said. “There will also be a 3 acre retention pond for storm water management, and upgrades to water and sewer lines.”

Smith said officials plan to open the office park in phases, with three parcels dedicated for phase one.

Phase two would incorporate the remaining parcels, depending on market demand.

Smith said the development is a prime location for new medical offices, banks and new spec space for future business offices.

One parcel beginning to take shape within Tiburon Parc is Live Oak Bank’s new 32,000-square-foot Wilmington headquarters that is also being constructed by Clancy & Theys.
Laura Petty, spokeswoman for Live Oak Bank, said the firm hopes to move into its new location by the first quarter of 2013.

Smith added that construction crews are trying to incorporate the area’s natural beauty by keeping and relocating many of the native oaks and long-branch pine trees within the development.

“We’re doing a lot of conservation in the area,” Smith said. “We have a 90-inch tree spade onsite that we’re using to relocate many of the oaks and long-branch pines that would have otherwise been cut down to make way for future development.”

But while Oleander Company is touting the development’s natural aesthetics, it is Tiburon Parc’s location that officials are banking on.

Located in the heart of Wilmington and New Hanover County, the future development is within easy access of the Port of Wilmington, New Hanover Regional Medical Center, regional shopping, downtown and mature residential neighborhoods. The development is accessible via Oleander Drive, Shipyard and Independence boulevards.

“We’re certainly hoping that the area will drive development,” Smith said. “We’ve had interest, but nothing too serious to make an announcement . . . I think once the infrastructure is in place we’ll see more interest increase.”

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By the numbers: Tiburon Parc
- $1.25 million in infrastructure upgrades.
- 105 acres of future development.
- 15 parcels dedicated to future multi-family/office development.
- 652,500 square feet of office development capacity.

Source: Oleander Company