A longtime Wilmington-based commercial brokerage firm will represent one of the largest commercial mixed-use developments in the Landfall submarket, officials said Monday.
 
Cape Fear Commercial announced that it’s been tapped as the exclusive property manager for the Progress Point One mixed-use development at the Military Cutoff and Eastwood roads intersection near Landfall.
 
Progress Point is a mixed-use development of office and retail space that includes CVS Pharmacy, Slice Of Life Pizzeria and Pub, Learning Express and P.T’s Olde Fashioned Grille.
 
Recently, the development has landed a wave of financial and professional service tenants, including Kinston-based The Little Bank, a residential mortgage service division for First Bank and Newport News, Va.-based W.M. Jordan Inc.’s North Carolina division.  
 
As property manager, Cape Fear Commercial is responsible for the development’s management and leasing.
 
The new listing also signifies the brokerage firm’s foothold in the Landfall submarket – an area that continues to experience rising traffic counts, personal incomes and commercial development.
 
In addition to the Progress Point One development, Cape Fear Commercial also manages two other properties within the vicinity, including an office building at 1404 Commonwealth Drive. The firm also manages and leases the Landfall Shopping Center, a 133,122-square-foot retail development located across the street from Progress Point One.
 
Spruill Thompson, Cape Fear Commercial senior vice president who has placed many of the new tenants in the development, said overseeing the property would help the development grow.
 
“We are very excited about the opportunity to offer our management services to Progress Point One,” Thompson said in a news a release. “Extending our services to three corners of the Military Cutoff and Eastwood Road corridor is a proud achievement, and we are looking forward to working with the tenants and business owners to find ways to insure they are maximizing their investments at such a major intersection in the surrounding market.”