Print
Real Estate - Commercial

Investor Buys Leland Industrial Park Property

By Cece Nunn, posted Jan 15, 2018
An investor recently bought the property at 2216 Mercantile Drive in Leland Industrial Park. (Photo courtesy of Eastern Carolinas Commercial Real Estate)
An investor recently purchased an 18,000-square-foot facility in Leland Industrial Park for $1.365 million, according to an announcement from Wilmington-based Eastern Carolinas Commercial Real Estate.

Leland Warehouse LLC bought the 3-acre property at 2216 Mercantile Drive from Terry Hamilton in November, a Brunswick County deed shows.

Garry Silivanch, partner in ECCRE, represented the seller in the transaction, which took place after Silivanch recommended that the building be fully leased first, then sold to a purchaser as an investment, Silivanch said.

“This sale comes after Garry executed on the strategy of leasing the formerly vacant 18,000-square-foot building to a single tenant on a long-term lease. He then put that investment sale out on the market, landing a contract within 48 hours of it being on the market,” stated the ECCRE release.

That single tenant was eland Industries, a manufacturer of safety and structural components for the energy industry, according to the company’s website.

In recent months, local officials have been working to draw more attention to the 630-acre Leland Industrial Park, forming a five-member task force through the town of Leland’s economic development committee.

Gary Vidmar, economic and community development director for the town of Leland, called the industrial park “a hidden gem” that leaders want to share more information about, according to a Greater Wilmington Business Journal story in December.

Although the park is not within the town’s limits, it employs residents and people who shop and dine in the town, Vidmar said in the story. 
Ico insights

INSIGHTS

SPONSORS' CONTENT
Corey61

The Toughest Job There Is

Corey Lewis - Cape Fear Jobs
Alyce 4 april242017

Millennials Facing Heavy Debt Burden, Need Realistic View of Future

Alyce Phillips - Old North State Trust LLC
Jeff metrocopy

Public Adjusters are Your Advocates After the Storm

Jeffrey Feldstein - Metro Public Adjustment

Trending News

A First Look At The Next Phase Of Autumn Hall

Cece Nunn - Feb 14, 2019

ILM Awards Contract For Second Phase Of Terminal Expansion

Christina Haley O'Neal - Feb 13, 2019

Smith + Gsell Design Firm Develops Studio Space, Residential Homes

Johanna Cano - Feb 13, 2019

Local Retailer Meadowlark Plans Move In March

Christina Haley O'Neal - Feb 14, 2019

Family-owned Artisan Market Planned For Third Street Property

Christina Haley O'Neal - Feb 15, 2019

In The Current Issue

Navy Week To Coincide With Azalea Festival

The U.S. Navy is coming to the Port City this spring, coinciding with the N.C. Azalea Festival. Wilmington is among the 14 selected sites –...


Food Hall Trend Coming To ILM

Food halls have been popping up throughout the United States, often in downtown cores. Some estimates predict that there could be more than...


Pushing Investment Crowdfunding

After almost two years since the NC PACES Act was enacted, three companies have completed crowdfunding fillings with the state, demonstratin...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Health Care Heroes 2018
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties