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Real Estate - Commercial

Finalists Announced For Commercial Real Estate Awards

By Cece Nunn, posted Jan 17, 2020
The solar installation at Live Oak Bank's campus in Wilmington is a finalist for the Economic & Community Enhancement Award as part of the Cape Fear CREW's second annual recognition program. (Photo courtesy of Cape Fear CREW)

Cape Fear CREW (Commercial Real Estate Women) announced the finalists and achievement award winners Friday for the Cape Fear CREW second annual Awards of Excellence. 

The awards recognize excellence and leadership in the local commercial real estate industry, a news release stated 

“We received a remarkable number of excellent submissions this year for our second annual Awards of Excellence,” said Elise Rocks, CREW member and chairwoman of the selection committee. “The judges were very impressed with the innovation and commitment to excellence of the companies that are shaping the future of our quickly growing region.

"We congratulate all of them and look forward to announcing the winners on Feb. 27.”

Rocks said last year, about 250 people attended the inaugural awards program, while this year Cape Fear CREW expects at least 400.

The event will be held at 11 a.m. Feb. 27 at the Wilmington Convention Center and will be open to the public. 

The finalists are:

DEALMAKER AWARD 
(Below are descriptions from nomination materials)

GLOW (Girls Leadership Academy of Wilmington) new campus financing
Term debt with New Markets Tax Credit
Sandy Spiers, SunTrust now Truist


New Markets Tax Credits (NMTC) are federal, dollar-for-dollar tax credits to assist in the funding of neighborhood changing and/or job creating commercial real estate projects located in low-income census tracts. Effective use of New Markets Tax Credits Solution helped GLOW maximize tax benefits and create more value in the project and benefit for the surrounding community.

Harrington Village development agreement
Development agreement between the town of Leland and Harrington Village Developers LLC
Gary Vidmar, economic and community development director for the town of Leland and Logan Developers, Inc.

To shape the character of the town and create a downtown business district, Leland officials enacted form-based zoning code standards in 2011, and, in 2013, rezoned an area identified as the Gateway District to a Flexcode zoning district.

The Gateway District Infill Plan was later adopted establishing a vision for an urban, mixed-use residential and business district along the Village Road corridor and surrounding neighborhoods.

One of three "catalyst sites" identified in the Gateway Plan was 20 acres located north of Village Road and bounded by Lee Drive to the west and Fairview Road to the east. It was previously occupied by a mobile home park and an ad hoc flea market. In the Gateway District Infill Plan, town officials envisioned commercial uses along Village Road and a mixed-use retail village on the remaining portion of the site.

The town anticipated that the proper development of this site, along with the planned extension of Baldwin Drive, would generate future economic development, increase property values, provide jobs and improve traffic flow in the Gateway District.

As a result, Harrington Village and Harrington Square comprise a $50 million mixed-use project built on the site.

Pacon Manufacturing relocation
The Cress Group at Coldwell Banker Commercial Sun Coast Partners/Economic development partners/Pacon Manufacturing relocating from New Jersey to Navassa


Pacon Manufacturing, currently headquartered in Somerset, New Jersey, was looking to relocate its manufacturing and headquarters to the southeast region of the U.S. because of high business costs, weather and standard of living. Compared to other coastal towns in the southeast, Pacon determined the Wilmington area provided the greatest value based on the combined business, educational, cultural and lifestyle amenities.

ECONOMIC & COMMUNITY ENHANCEMENT

GLOW Academy

Live Oak Bank commercial solar installation

Pine Valley Library                


BEST INTERIOR
Tails Piano Bar
Darla Hamby,  design
Mark Gansor, decorative artist

Nest Realty Office
Julia Jacobsen, Interior Designer
Bryan Kristof, Craftspace Design

WHQR Renovation
Natalie Lentz Blake, Big Sky Design



CAREER ADVANCEMENT FOR WOMEN

Judy Girard, founder, Girls Leadership Academy of Wilmington or GLOW)

Dr. Justine Reel, the University of North Carolina Wilmington's College of Health & Human Services, who is organizing a women's leadership program to promote diversity and inclusion among rising leaders across UNCW

Stephanie Lanier, founder of Inspiration Lab


PLACEMAKING

ARRIVE Wilmington, a boutique hotel in downtown Wilmington

Atlantic View, condominiums in Wrightsville Beach

Flying Machine Brewing Co. on Randall Parkway in Wilmington

Additionally, the Cape Fear Board of Directors has named the winners of the individual achievement awards:
 
IMPACT AWARD WINNER: Cape Fear Commercial

BETH QUINN EXCELLENCE AWARD WINNER: Nancy Guyton (Kincaid & Associates PLLC)
 

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