Print
Real Estate - Commercial

Three Landmark Properties Sell In And Near Wrightsville Beach

By Cece Nunn, posted Dec 21, 2017
The properties at 212 and 216 Causeway Drive in Wrightsville Beach, including the former Middle of the Island Restaurant location (shown above), recently sold for a combined $2.15 million. (Photo courtesy of Cape Fear Commercial)
Wilmington-based Cape Fear Commercial has closed on the sale of three landmark properties in and near Wrightsville Beach, the company announced Thursday.

On Wednesday, Poe’s Tavern purchased 212 and 216 Causeway Drive in Wrightsville Beach, a news release said. The existing Poe’s Tavern and former Middle of the Island (MOI) Restaurant properties sold for a combined $2.15 million.

Cape Fear Commercial Partner Brian Eckel represented the seller in the transaction, and Patrick Riley, also of Cape Fear Commercial, represented the buyer, the release said.

“We worked closely with the town of Wrightsville Beach to get approval for the demolition of the old MOI,” Riley said in the release. “Removal of the former restaurant will help to accommodate more parking for exclusive use by Poe’s, which in turn should alleviate parking issues during the busy summer months and provide easier access for patrons of the establishment.”

Eckel said in the release, “The closing is a little bitter sweet. Although the Middle of the Island building was past the point of return and completely functionally obsolete, it is still sad to lose a landmark like the MOI. Fortunately, Poe’s ownership is committed to quality and always looking to improve the customer experience. They’ve been a great addition to the Wrightsville Beach community.”

In late November, Cape Fear Commercial completed a quick $1.225 million sale of 2012 Eastwood Road, formerly Kefi and then The Pub at Sweet n Savory, the news release said. Buyers JM Eastwood LLC and MW Eastwood LLC closed on the 4,718-square-foot building in 37 days.

Riley represented the seller, NAC Holdings LLC, in the transaction. A closing in just over a month for a commercial sale is rare, Riley said.

“We received multiple offers on the building within its first week on the market and are thrilled to have closed so quickly,” he said in the release. “This turned out to be a unique assignment given the timing of the transaction and that the new owner plans to change the property’s use from a restaurant to office space.”

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Jane

It’s Child’s Play

Jane Morrow - Smart Start of New Hanover County
Jordain 422430214

Why Messing Up is Essential for Business and How to Do it More

Jordan Cain - APPROVE
2022052 75 142344351

Bridging Futures: The Case for Toll Funding in Wilmington’s Cape Fear Memorial Bridge Revamp

Natalie English - Wilmington Chamber of Commerce

Trending News

YMCA Eyes Growth With Plans For New, Expanded Facilities

Emma Dill - Apr 23, 2024

Burns, Redenbaugh Promoted At Coastal Horizons

Staff Reports - Apr 23, 2024

Cold Storage Developer Sets Near-port Facility Completion Date

Audrey Elsberry - Apr 24, 2024

Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm

Audrey Elsberry - Apr 24, 2024

Krug Joins Infinity Acupuncture

Staff Reports - Apr 23, 2024

In The Current Issue

Surf City Embarks On Park’s Construction

“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...


MADE: Makers Of Important Papers

W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...


Taking Marine Science On The Road

“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season