Print
Real Estate - Commercial

Professional Builders Supply Closes On U.S. 421 Property In $5.5M Deal

By Cece Nunn, posted Feb 7, 2018
Professional Builders Supply has completed the purchase of the U.S. 421 property and facility it moved into in 2016. (Photo courtesy of Professional Builders Supply)

Professional Builders Supply has completed the purchase of the U.S. 421 property where the company moved its Wilmington operations in 2016.

The firm bought the 10-acre property at 3941 U.S. 421, including a 50,000-square-foot facility built by McKinley Building Corp., in a $5.5 million transaction, according to the deed. The previous owner was Seamist Properties LLC.

"It's a great location especially since the last leg of I-140 opened," said Van Isley, Professional Builders Supply CEO, referring to the Wilmington bypass that opened in December and connects U.S. 17 in Brunswick and New Hanover counties. "We do quite a bit of business down in Brunswick County, so it shaved 10 to 15 minutes off that run, which is big. It's all about efficiency."

The bypass has been hailed as a key piece of transportation infrastructure for the region's economic development efforts. In January, officials approved a nearly $12.8 million construction contract for the planned U.S. 421 water and sewer utility project that is expected to make the industrial corridor more attractive to potential employers.

Professional Builders Supply, founded in Raleigh in 2003, opened a Wilmington location in 2009. The firm sells building supplies mainly to single-family homebuilders with some multifamily customers, Isley said in a previous Greater Wilmington Business Journal story.

Purchasing the U.S. 421 property was part of the plan when the company moved from Military Cutoff Road in Wilmington into the new facility in November 2016, Isley said. The company had at least 30 employees in its Wilmington branch at that time and has been able to add about a dozen employees to its roster since the move, he said. 

Isley said he hopes the construction boom of recent years, which has been particularly evident in Brunswick County, will continue.

"There are definitely some challenges, in that pricing across the board continues to increase whether it be labor or materials or land prices and the combination of all that with some additional bumps in the interest rate could be cause for concern," Isley said Tuesday. "Obviously the stock market doing what it did yesterday could have some impact on Northeasterners relocating to Brunswick County, so we just kind of have to wait and see."

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Geofflosee300x300 10221511305

Wilmington Proctors in Admiralty to Present at Annual Seminar

Geoffrey Losee - Rountree Losee LLP
Nealjohnson 12191614553

How to Power Wash Your Deck Like a Pro

Neal Johnson - Network Real Estate
Burrus rob headshot 300x300

Cameron Executive Network Celebrates 15+ Years of Mentoring

Robert Burrus - Cameron School of Business - University of North Carolina Wilmington

Trending News

After 40 Years, Air Wilmington Could Have New Owner

Christina Haley O'Neal - Feb 19, 2018

South Front Phase II Apartments Fully Leased

Christina Haley O'Neal - Feb 20, 2018

Pollution Concerns Slow National Gypsum Incentives Discussion

Cece Nunn and Christina Haley O'Neal - Feb 19, 2018

Wilmington Competing With Tampa For National Gypsum Reopening

Cece Nunn - Feb 20, 2018

Cape Fear Station On Bald Head Island Recognized By Southern Living

Christina Haley O'Neal - Feb 20, 2018

In The Current Issue

Area Housing Supply Expected To Stay Low

The Wilmington housing market is expected to remain strong this year and the next, but one of the main hurdles will be the area's shrinking...


More Rooms Mean Larger Conventions

Recent developments downtown, including the opening of a new hotel next to the Wilmington Convention Center, is expected to bump up interest...


Feller Strikes A Cord Internationally

Feller Power Cords' manufacturing and distribution facility in Leland produces power cords for a wide range of industries in the medical, IT...

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

WilmingtonBiz Expo - Keynote Lunch with John Gizdic, CEO, New Hanover Regional Medical Center
Wilmington's Most Intriguing People of 2017
2017 Health Care Heroes