Print
Real Estate - Commercial

Making Way For The Avenue, DryCorp Moving From Military Cutoff Road Location

By Cece Nunn, posted Sep 9, 2019
DryCorp is moving this week out of 349 Military Cutoff Road (shown above) and into 4300 Deer Creek Lane. (Photo by Cece Nunn)

Tenants have been moving out of the industrial building at 349 Military Cutoff Road as a result of The Avenue, an upcoming, more than $200 million mixed-use development.

DryCorp, a company that distributes two product lines, DRYPro and DryCASE out of Wilmington, is moving from 349 Military Cutoff Road to 4300 Deer Creek Lane, off North Kerr Avenue, in about half of the building also occupied by the property’s owner, Highland Roofing Co.

The address DryCorp is vacating, which will be demolished to make way for The Avenue, was a great location, said Corey Heim, COO of DryCorp.

“It’s kind of one of those special situations we were able to enjoy for [more than] 11 years,” he said Monday. “But when we started to look pretty seriously [for a new location], we were able to find a spot that was a little bit of a special situation, too.”

Heim explained that the new address was flooded by Hurricane Florence in September 2018.

“So the landlord in that spot basically said they’d be able to rebuild based a little bit on what our needs were. That’s been really great,” he said. “It was a pretty tight timeline for when we had to move in and the sort of renovation they had to do. But it looks like it’s all worked out.”

DryCorp is expected to be operational in its new space, about 4,000 square feet, this week, Heim said. Its DRYPro line is made up of waterproof body protection, while DryCASE  manufactures waterproof outdoor gear.

As for The Avenue, which is set to be anchored by a Westin hotel and include apartments, offices and high-end exclusive retailers and restaurants, construction has not yet started, but the project is moving along.

“We are looking to start asbestos abatement immediately following the tenants, including DryCorp, moving out,” said Roy Carroll, owner of The Avenue development firm The Carroll Companies, in an email Monday. “Actual demolition will occur around the end of the year.”

He also said, “DryCorp has been an excellent tenant and I wish we had another property we could have moved them.”

Carroll's firm purchased the property at 349 Military Cutoff Road, which includes nearly 11 acres, for $7.5 million in August 2017.

The building DryCorp is leaving is a little more than 10,000 square feet. In addition to DryCorp, the tenants included Front Line Freediving, a dive shop focused on freediving, spearfishing and scuba diving, according to the company's Facebook page.

“The rumors are true! Front Line is leaving the Wilmington, NC area at the end of August and relocating to Aguadilla, Puerto Rico,” a Facebook post stated. “While the online store will continue to operate our brick and mortar store will be reopening in the winter of 2019. What does this mean for you? We will continue to maintain our online store and continue shipping worldwide.”

Another previous tenant at 349 Military Cutoff Road, Maverick America Spearfishing, announced a new location and moved in 2017.

Ico insights

INSIGHTS

SPONSORS' CONTENT
Dave sweyer 300 x 300

Preparing Your Property for Cooler Weather

Dave Sweyer - Sweyer Property Management
Alyce 4 april242017

The Merits of Trusts vs. Guardianships for Minor Children

Alyce Phillips - Old North State Trust LLC
Lynnwhitesellheadshot

Culture is Foundational to Organizational Success

Lynn Whitesell - Harris Whitesell Consulting

Trending News

How A $90M Gateway Project Could Impact The City

Christina Haley O'Neal - Oct 16, 2019

Three Startups Mark Growth By Moving Out Of TekMountain

Johanna Cano - Oct 17, 2019

Tru Colors Submits Site Plans For Headquarters Facility

Cece Nunn - Oct 16, 2019

South College Sandwich & Deli Ranks On BuzzFeed List

Jessica Maurer - Oct 16, 2019

Commercial Real Estate Firm Moves To New Office Space

Cece Nunn - Oct 18, 2019

In The Current Issue

Health Care Heroes: Health Care Professional

The Health Care Professional category honors any health care providers other than physicians or nurses whose performance is considered exemp...



Health Care Heroes: Innovation

The Innovation category honors an individual or team behind a new scientific discovery, procedure, treatment or device that can save lives o...

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

August 26, 2019 Power Breakfast: A Healthy Sale?
WILMA's Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`