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Real Estate - Commercial

Medical Firms Buy Offices Downtown, In Supply

By Cece Nunn, posted Mar 24, 2015
A local commercial real estate broker has sold office space in downtown Wilmington and in Brunswick County to medical firms in recent weeks, through transactions involving nearly 9,000 square feet.

Brush Dental Care and Farrell Ventures LLC bought the third floor of Chestnut Commons, a building at 414 Chestnut St. in downtown Wilmington’s historic district, for an undisclosed amount, according to an announcement from Garry Silivanch, broker and partner at Eastern Carolinas Commercial Real Estate, who represented the seller, Wells Fargo Bank, in the transaction.

Each floor of the building is about 6,000 square feet, with 5,560 leaseable square feet, Silivanch said, and the second floor of Chestnut Commons is still available for purchase or lease.  

The building was renovated in 2006, and Brush Dental leased an office there in 2008. In addition to its downtown location, Brush Dental has offices in Carolina Beach, Leland and Supply.

Brandon Farrell, a dentist, and his brother Barry Farrell, who is in charge of Brush Dental’s business initiatives, co-founded the company, according to Brush Dental’s website.

In a separate transaction, Surgical Eye Care bought for an undisclosed amount the 3,338-square-foot Doctors Circle office condo it has been occupying in Brunswick Medical Park in Supply. The practice, which includes eye surgeons Alan Brown and Richard Hawkins, also has an office in Wilmington, according to its website.

Silivanch again represented Wells Fargo Bank, the seller, in the Doctors Circle sale while Hansen Matthews, partner in Maus, Warwick, Matthews & Co., represented Surgical Eye Care, the buyer.

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