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Real Estate - Commercial

Investors Buy Military Cutoff Office Space In $4.4M Deal

By Cece Nunn, posted Sep 8, 2016
A Florida limited liability company bought the second and third floors of the Howe Creek Landing office building at 700 Military Cutoff Road. (Photo by Cece Nunn)
In a $4.4 million deal, investors recently purchased two floors of an office building on Military Cutoff Road.

Long Creek Holdings, a Florida limited liability company owned by multiple trusts, bought the second and third floors of the Howe Creek Landing office building at 700 Military Cutoff Road at the end of August, according to a New Hanover County deed.

Deedy Vincent, a residential and commercial broker with The Mitchell-Lewis Group of Intracoastal Realty, and Lynn Harris, a commercial broker with Century 21 Sweyer & Associates, worked together to find the right property for Long Creek Holdings, Harris said Thursday.

“The buyer is very excited about owning class-A space in the Mayfaire area,” Vincent said. “It’s just highly desirable as an investment.”

Coldwell Banker Commercial SunCoast broker Hank Adams represented the Texas group that owned the space in the transaction.

Vincent said in addition to the location, the Howe Creek Landing space “has got some great tenants in place already,” including Biocomposites Inc., a firm that develops, manufactures and markets synthetic calcium composite products for bone regeneration; Ochsner Eye, a glaucoma and cataract practice; and Movement Mortgage.

Vincent said the owner is in the process of getting a new tenant for the last remaining vacant space, 2,000 square feet, at which point both floors will be fully leased. The two floors total about 26,000 square feet.

Built in 2006, Howe Creek Landing also includes the office building at 710 Military Cutoff Road.

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