By November, a company that makes millions from online sales is expected to open a retail store in a landmark building on North Front Street in downtown Wilmington, commercial brokers learned Wednesday during a real estate tour.
As he talked to brokers Wednesday afternoon about the space for lease on the fifth floor of 272 N. Front St. in the Self Help Building, broker John Hinnant provided hints about the activity underway on the first floor, formerly rented and used on camera by the TV shows Dawson’s Creek and One Tree Hill.
“We have half of it leased [about 3,300 square feet] to a retailer that’s going to be really exciting to hear about when they make their announcement,” said Hinnant, of Maus, Warwick, Matthews & Company.
He did not name the company, adding, “Let’s just say they have an online presence and what they do downstairs is not going to be what pays the rent. Their $30 million in online sales will pay their rent. So they’re kind of an exciting retailer to have in town.”
He said the tenant hoped to open its retail presence by Nov. 1.
Hinnant was discussing the 5,054 square feet of space available on the building’s fifth floor, which will be leased for $16 a square foot, during a Downtown Commercial Property Showcase hosted by Wilmington Downtown Inc. Maus, Warwick, Matthews & Company was one of the tour’s sponsors.
Hinnant explained that the fifth floor was formerly occupied by Inclinix Inc., a company that coordinates patient enrollment marketing for clinical trials. The Self Help Building was constructed in 1906 and for many years housed Efird's Department Store.
In addition to 272 N. Front St., brokers visited the Atlantic Coastline Railroad Freight Office, a three-story building at 501 Nutt St. connected to the Coastline Conference Center Complex and next to the Wilmington Railroad Museum and Wilmington Chamber of Commerce.
Other properties on the tour were the 5,500-square-foot call center in the Cotton Exchange that was formerly occupied by Castle Branch and a 4,500-square-foot penthouse office suite at 130 N. Front St.
