Print
Real Estate - Commercial

Investors Buy Landfall Park Office Buildings

By Cece Nunn, posted Jun 1, 2017
Taylor Development Group LLC, of Winston-Salem, bought Landfall Park's two office buildings (left) on Eastwood Road next to Port City Chop House (right) for $10.2 million. (Photo courtesy of Cape Fear Commercial)
Investors recently bought two office buildings on Eastwood Road for $10.2 million, according to an announcement from Wilmington-based Cape Fear Commercial.

Taylor Development Group LLC, based in Winston-Salem, purchased Landfall Park North and Landfall Park South, buildings next to Port City Chop House near Wrightsville Beach, from North-South Entity LLC, the Thursday news release said.

A U.S. Bankruptcy Court judge approved the sale April 28 as part of North-South Entity's Chapter 11 plan, according to court documents.
  
The combined size of the Landfall Park buildings is 56,000 square feet, the CFC release said. Tenants include SunTrust Bank, Chemtex International, Quintiles and UBS Financials, among others.
 
The release said the buyer plans to immediately begin working with a designer to cosmetically update the buildings and complete maintenance renovations.

“We view this as a great opportunity to make some necessary improvements to two of the best office buildings in the region in order to capitalize on their terrific location, being close to Landfall and Wrightsville Beach,” said Chris Ramm of Taylor Development Group, in the release.

Brian Eckel, Paul Loukas and Vin Wells with Cape Fear Commercial represented the seller, and Michael Waldrop with Waldrop Properties in Raleigh represented the buyer, the release said.
 
Cape Fear Commercial will continue to manage and lease Landfall Park North and Landfall Park South on behalf of the new owner, Eckel said.

With 2,365 square feet of space currently available, the buildings will be able to accommodate larger users in the near future, according to the release.

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Stoyc 3 300x300

How Tax Reform Could Impact Home Ownership

Patrick Stoy - Market Consulting Mortgage
Bankofamericaderekcohen 122316122315

Bringing Manufacturing Back To The U.S.

Derek Cohen - Bank of America Merrill Lynch
Chris coudriet headshot 300x300 10211545555

Investing In Early Childhood Education Creates Long-Term Benefits

Chris Coudriet - New Hanover County Government

Trending News

United Airlines To Offer Two New Non-stop Routes To DC, Chicago

Christina Haley O'Neal - Nov 20, 2017

Virginia-based Insurance Broker Acquires Wilmington Firm

Christina Haley O'Neal - Nov 20, 2017

New Owner Picks Up 3 Wilmington Taxi Companies

Cece Nunn - Nov 21, 2017

ILM Hires Planning And Development Director To Aid Future Growth

Staff Reports - Nov 21, 2017

Industrial Supply Co. Growing, To Open N. College Road Storefront

Cece Nunn - Nov 20, 2017

In The Current Issue

Going Online For Animal Welfare

Janelle Babington bears such passion for animals that she made it her business to channel money to animal welfare organizations. She launche...


Builder Aims To Create Apartment ‘Gems’

In a shady area surrounded by trees just off South 17th Street, builders found a real estate equivalent to a diamond in the rough. Plantatio...


In Castle Hayne, A Better Business Crop

North Carolina farmers are getting the latest in tricks of the trade and technological advances through research being conducted at horticul...

Book On Business

The 2017 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2017 Health Care Heroes
Major Developments
WilmingtonBiz Expo - Key Note Lunch with Keynote Lunch with Chip Mahan - 2016