Print
Real Estate - Commercial

Logistics Firm Buys Ashes Drive Office Buildings For $7.4M

By Cece Nunn, posted Apr 30, 2018
The offices at 1013 (shown above) and 1011 Ashes Drive were recently purchased by MegaCorp Logistics. (Photo courtesy of Coldwell Banker Commercial SunCoast)
MegaCorp Logistics recently bought two class-A office buildings on Ashes Drive, in the Landfall/Mayfaire submarket, for $7.4 million, brokers announced Monday.

In the transaction, the logistics company acquired 1011 and 1013 Ashes Drive, consisting of 30,595 and 16,800 square feet respectively, from Ashes Drive LLC, according to a news release from Wilmington-based commercial real estate firm Cape Fear Commercial. MegaCorp officials plan to renovate and occupy 1011 Ashes Drive while continuing to lease all space at 1013 Ashes Drive out to other organizations until such time that it requires additional square footage, the release stated.

Senior Vice President Spruill Thompson of Cape Fear Commercial negotiated the transaction on behalf of the buyer, while Coldwell Banker Commercial SunCoast brokers Cody Cress and Tyler Pegg of The CRESS Group represented the seller. 

"We think it's a great fit for them and it was perfect timing for us" and the company, Cress said, because there's limited inventory of office space of that size in the Landfall/Mayfaire submarket.

The CFC release said the firms worked closely with the seller’s in-house consultant, Gavin Howe, and Faison Sutton of Murchison Taylor & Gibson PLLC to complete the transaction.

Cape Fear Commercial had also assisted MegaCorp in the acquisition of its current office buildings at 527 Causeway Drive and 7040 Wrightsville Ave., and MegaCorp has engaged CFC to list both properties for sale.

“Spruill Thompson and Cape Fear Commercial continually do a good job for us,” said T. Ryan Legg, owner of MegaCorp Logistics, in the release. “Cape Fear Commercial helped me to lease MegaCorp’s first office in Wilmington when I had just four employees and has assisted me to finding facilities for our growing company over the years. We are pleased to announce that MegaCorp now employs 134 people in the Wilmington office.”

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Drewsmith copiersplus headshot

The Road Map To Secure And Economical Printing Practices

Drew Smith - Copiers Plus
Morton300x300

Planning For Your College Student’s Success During COVID-19

Jim Morton - Cape Fear Community College
Carolinemontgomery4

PPP Forgiveness - What You Need To Know

Caroline Montgomery - Adam Shay CPA, PLLC

Trending News

California-based Tech Company Opens An Office In Wilmington

Johanna Cano - Jun 4, 2020

Joint Venture Buys Private Marine Terminal In Wilmington

Christina Haley O'Neal - Jun 4, 2020

Colleagues Remember Pat Leonard As Student Advocate, Strong Voice For Inclusion

Jenny Callison - Jun 4, 2020

Live Oak Investment Subsidiary Grows Through Acquisition

Jenny Callison - Jun 5, 2020

Alcami Announces New CEO

Cece Nunn - Jun 4, 2020

In The Current Issue

N.C. Ports Sets Sail With Big Opportunities

The MV Hyundai Hope’s trip to the port May 20 marked a significant step in developing economic oppor­tunities for the region and state, said...


Major Projects Move Forward

Throughout the coronavirus pandemic, work has continued on many major projects in the Wilmington area, from construction to planning phases....


Entrepreneur Pivots To Offer PPE

The CEO of Hensler Surgical Technologies LLC launched a new entity to sell personal protective equipment....

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`