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Real Estate - Commercial

Space Already Selling As Crews Work On The Offices At Mayfaire IV

By Cece Nunn, posted Nov 7, 2016
The Offices at Mayfaire IV are under construction at 6740 Rock Spring Road by McKinley Building Corp. The building is expected to be complete by April next year. (Photo by Cece Nunn)
As the fourth in a series of six Mayfaire office buildings rises on Rock Spring Road, the developers have already found buyers interested in becoming part of the 40,000-square-foot structure.

One of the first is Greg Johnson, an eye doctor who founded Intracoastal Eye Physicians in Wilmington last year.

Johnson said Monday that his growing practice needs more space, and he plans to move from Howe Creek Landing at 710 Military Cutoff Road to The Offices at Mayfaire IV, under construction by McKinley Building Corp. at 6740 Rock Spring Road in the Mayfaire office park.

The shell of the building is expected to be complete by April, said developer Steve Anderson. He said in addition to Johnson’s practice, he’s working with a dental practice and a CPA group that could eventually open offices there.

Anderson and partners have developed numerous office projects in Wilmington, including The Offices at Mayfaire I, II and III, and the recently completed The Offices at Airlie at the corner of Military Cutoff Road and Wrightsville Avenue.

Anderson said they anticipate starting Mayfaire V no later than summer 2017.

“For our buildings, we want the market to dictate when they should start. And as it is now, the market is certainly telling us that Mayfaire is at the top of many class-A office users and preferred locations,” Anderson said Monday.

Johnson said in an email Monday that for his practice, the Offices at Mayfaire location “represents the pinnacle of medical real estate. This was a perfect confluence of right place, right time. I had been looking for a permanent location in the Military Cutoff area for over a year, and after I talked to Steve Anderson about this property, it was game, set and match.”

He said his practice will be moving from 1,700 square feet to 4,500 square feet in The Offices at Mayfaire IV, space that he is purchasing for an undisclosed price.

“Intracoastal Eye Physicians is a comprehensive ophthalmology practice specializing in the medical management of eye disease as well as primary vision care needs, such as glasses and contact lenses. I've practiced in Wilmington for 11 years and started this new practice in 2015 with the vision of being the leading provider of eye care solutions in the region. We have grown quickly through word-of-mouth and physician referrals,” Johnson said.  

He said the Mayfaire IV space will “allow us to transit more patients with far greater efficiency. We are also extremely excited to be adding full-service optical under one roof. I truly believe that we will provide the area's highest quality glasses experience, with a full range from workhorse high-value frames to the most unique and intriguing new designs. We are also bringing on one of Wilmington's most experienced and trusted opticians, Kathy Gruber.”

Intracoastal Eye Physicians currently has six employees, and Johnson said he expects to add more after the practice's move.       

The fourth in the Mayfaire series of buildings is about 10 percent larger than the first three buildings. With demand for office space in the Mayfaire submarket expected to continue, Anderson and partners also have a target date for starting the sixth Mayfaire office building – spring 2018.

“As the market dictates, we can move any of that up,” Anderson said of his current Mayfaire V and VI schedule estimates. “We would look to start no later than those dates but can certainly start earlier if the market requires it.”

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