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Real Estate - Commercial

For $4.9M, Company Buys Wilmington Facility

By Cece Nunn, posted Jun 3, 2016
A company bought the 240,000-square-foot facility at 421 Landmark Drive in Landmark Industrial Park recently for $4.9 million. (Photo by Cece Nunn)
Correction: This version corrects the relationship of Noelle LLC to the buyer of the facility.

A company managed by the president of a national women's clothing and accessory manufacturer and wholesaler recently bought a 240,000-square-foot facility in Wilmington for $4.9 million.

The wholesaler, Noelle LLC, leased part of the facility, at 421 Landmark Drive in Landmark Industrial Park off Raleigh Street, in 2014, according to a previous Greater Wilmington Business Journal story. 

Noelle LLC president and founder Deborah Groh is the registered agent for Noelle Landmark LLC, which bought the Landmark Drive distribution center and office property on May 27 and is leasing it back to Noelle LLC.

In the fully occupied property, the other tenants in addition to Noelle are companies called Meridien and Net Logistics, said Don Harley, a broker with Coldwell Banker Commercial SunCoast who represented the seller, The Shelton Companies Inc., in the deal.

The building sits on a nearly 14-acre lot, according to New Hanover County property tax records.

Noelle LLC has 1,100 in-store boutiques across the U.S. and 14,000 retail customers, said Jeff Stokley, the company's COO.

He said the firm has a national showroom for its Simply Noelle products at Fulton Station, a shopping center off South 17th Street, where retailers can see the company's new product lines that come out each spring and fall.

Other Noelle offices in the area are located in Hampstead and in an office building on Silva Terra Drive off Carolina Beach Road in Wilmington. Noelle LLC has 75 employees in Wilmington.

The website says the company, led by president Deborah Groh, has "been creating products that make customers feel beautiful since 2005. At Noelle, we believe our success depends on the success of each and every business with Simply Noelle products on their shelves. This belief motivates us to create high-quality, affordable products that women love to wear."

The site says retailers can find Simply Noelle showrooms across the U.S. and in Canada, from Atlanta to Las Vegas, Dallas to Toronto. 

One of the other tenants at Noelle's Landmark Drive location, Meridien, has been an international sales and logistics company specializing in American home furnishings products for more than 25 years, according to the firm's website.

Founded in 2005, another tenant, Net Logistics, provides truck load and container services and warehousing consolidation, a Net Logistics website says.

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