Wilmingtonbiz logo
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

Join The Discussion

Similar Stories

Book On Business

Bob2017

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

Order Your Copy Today!
Print Only
$24.95 - Qty
Print + Excel File
$79.95 - Qty

In The Current Issue

Area Options Abound For Active Seniors

As the members of the baby boomer generation seek out ways to keep fit and enjoy their retirement years, the number and variety of fitness options continue to grow, especially in popular retirement destinations like Wilmington and the surrounding beach communities.

Select Bank Expands Footprint In Area

Building on its success in Leland, Select Bancorp Inc. has announced that it will expand its presence of its subsidiary, Select Bank & Trust...

Tour To Highlight Affordable Housing

To boost awareness about what affordable housing means in the Wilmington area, the Cape Fear Housing Coalition is hosting its first Real Hou...

Ico topnews Editor's Picks

Gov. Cooper Vetos Bill That Includes Funding On GenX

Christina Haley O'Neal - About 12 hours ago

UNCW Professor Awarded $1.5M Grant To Research Future Of Coastal Communities

Cece Nunn - About 13 hours ago

Cape Fear Serpentarium Reopens After Repairs

Christina Haley O'Neal - Sep 20, 2017

Il Forno Pizzeria Now Open At The Pointe At Barclay

Jessica Maurer - Sep 20, 2017 Trending News
Non Profit

United Way of the Cape Fear

United Way is working alongside local agencies in order to assist them in providing substantial and sustainable change within the Cape Fear Area. Live United!

Ico trending Trending News

Ico newsinimages News in Pictures

Have a tip, pitch or guest column?  Send us a tip.

Gallery Galleries

Video Videos

Power Breakfast: Coach C.B. McGrath - June 2017
Wilmington's Most Intriguing People of 2016

Register to Continue Seeing Wilmington's Best Business Coverage!


There are three ways to register for free.

Sign in with LinkedIn, Facebook or create an account:



Already registered? Login here.

Your free registration includes:

  • Access to 10 articles per month on WilmingtonBiz.com
  • Email updates to stay informed on local business news
  • A mobile optimized website
  • Advanced notification of Business Journal events
  • Management of your digital and print subscriptions
Laptop iphone ipad