Real Estate - Commercial

CastleBranch Buys Its HQ In Joint Venture

By Cece Nunn, posted Apr 1, 2020
Wilmington compliance management and screening company CastleBranch bought its headquarters buildings and a third office building in its complex recently in a joint venture. (Photo courtesy of CastleBranch)
CastleBranch completed the purchase recently of its headquarters at 1844 and 1845 Sir Tyler Drive in Wilmington, as well as the building next door at 1838 Sir Tyler Drive.
The purchase was part of a joint venture with SHP Acquisitions, the previous owner of the buildings, according to an announcement Wednesday.

Excise taxes listed on the deeds value the real estate transaction at $28.5 million. 

CastleBranch, a compliance management and infectious disease screening company, moved to The Cotton Exchange in downtown Wilmington with 32 employees in 2002.

In 2009, the company had grown to 125 team members and leased 1845 Sir Tyler Drive, building a second location at 1844 Sir Tyler Drive in 2014.

With a current roster of 425 employees, CastleBranch’s purchase signals the next step in the company’s development, according to a news release. 

“SHP Acquisitions has been a proud partner of CastleBranch since 2012,” said Dan Smith, founding member of SHP, in the release. “Together we’ve seen tremendous change and growth, including the development of a new building for CastleBranch in 2014, and we’re excited to further our partnership with this joint venture.”  

Brett Martin, CEO of CastleBranch, said in the release that the transaction represents years of effort, dedication and planning.

“The purchase of our headquarters is further proof of our commitment to the city of Wilmington and our intention to remain here for generations,” Martin said in the release. “More importantly, it serves as a reminder that, as turbulent as the COVID-19 storm appears to be today, we’re confident that it will pass, and Wilmington will continue to be a strong and vibrant community.” 

At a time when many companies have slowed or halted all business because of the new coronavirus, Martin said in the release that he views CastleBranch’s purchase as a signal of hope.

“Wilmington has weathered storms before, and we will weather this one together, too,” Martin said in the release. 

CastleBranch’s staff is working remotely to ensure their protection and the continued support of their clients, the release stated. 

“The COVID-19 storm will pass, and when it does, we should all have a plan in place that empowers our people to return to work,” Martin said in the release. “Everyone should be taking proactive measures -- now -- to make sure the spread of COVID-19 goes no further.”
Ico insights


Robindavisccu1 1011944433

How Corning Credit Union Is Helping Its Communities

Robin Davis - Corning Credit Union (CCU)
Chris coudriet

New Hanover County Offers Expertise And Resources For Safe Reopening

Chris Coudriet - New Hanover County Government
Dallas headshot 300x300

Growing Business Value When Times Are Tough

Dallas Romanowski - Cornerstone Business Advisors

Trending News

Office And Retail Complex Under Construction Gets Protective Touches

Cece Nunn - May 29, 2020

Attorney: Business Interruption Insurance Should Cover Virus Losses

Jenny Callison - May 28, 2020

On Castle Hayne Road, Fetching Space For Doggy Daycare

Cece Nunn - May 27, 2020

BIZTALK: Azalea Festival Plans Continue

Staff Reports - May 27, 2020

For County's $1.3M Small Business Grant Program, More Details Coming

Cece Nunn and Christina Haley O'Neal - May 29, 2020

In The Current Issue

Phases Aim To Aid Economy Safely

Included in our new lingo these days besides “social distanc­ing” (staying 6 feet apart) and COVID-19 (the novel coronavirus) are “phase one...

MADE: Spicing Up Local Markets

RAWsalsa is a local, independent maker and seller of smallbatch, fresh salsas. Products include signature fresh tomato and fresh pineapple s...

NHRMC: Suitors Come Calling

Of the six health systems that submitted proposals for buying or partnering with NHRMC, three have moved ahead of the rest of the pack for f...

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!



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