Print
Real Estate - Residential

Real Estate Firm Expanding With Second Office In Wilmington

By Cece Nunn, posted Dec 18, 2020
RE/MAX Executive plans to open a second Wilmington location at Bradley Creek Station on Oleander Drive. (Photo by Cece Nunn)
A residential real estate agency that opened an office downtown in 2018 is expanding its presence in Wilmington.

RE/MAX Executive officials are planning to open a second office in the Port City in 3,000 square feet in Unit 220 at Bradley Creek Station, an 80,000-square-foot retail and office building at 5815 Oleander Drive.  

The Oleander Drive space will be the 15th office in the Carolinas for RE/MAX Executive, a firm headquartered in Charlotte. The company also has an office in downtown Wilmington at 115 N. Third St., Suite 103.

The Oleander Drive corridor seemed the next best area to downtown Wilmington, officials said.

"There has been a lot of growth in downtown Wilmington, but we were trying to get into more of a residential area, a different part of Wilmington that probably has a different demography . . . the growth has been phenomenal in the last few years," said Hadi Atri, president and CEO of RE/MAX Executive. "And the second thing is that with the coronavirus going on, a lot of people are moving from the big metropolitan areas, and Wilmington is one of the destination areas."

Kourosh Sharifi, CFO of RE/MAX Executive, added, "Now, people can live where they want, not necessarily where they work. A lot of people are working remotely so they can work from home.  . . that market has always been one of the top destinations in the Carolina region."

Several other factors came into play in identifying the location for a second office, which RE/MAX Executive is purchasing. Those factors, Sharifi said, include visibility, parking and a good mix of other tenants.

"Also the developer is a very reputable, well-known group in that market," Sharifi said of Bradley Creek Station development firm SAMM Properties.

Currently, in its downtown office, RE/MAX Executive has 25 agents, with the expectation of eventually having another 25 on Oleander Drive.

For the RE/MAX business model, Sharifi and Atri said, agents have an average of 10 to 14 years of experience in real estate and complete about 15 to 18 transactions a year.

"That's a lot higher than an average broker in the industry," Sharifi explained. 

Construction on the Oleander Drive office is expected to be complete in February, with a grand opening potentially held in March.

Sharifi and Atri credited local managers Jennifer Bullock, Amy Aldridge, Jimmy Hopkins and Scott Gregory with doing the market research that has enabled the firm to grow here.

Eventually, the company could grow even more in the Wilmington area, and officials have included Leland and Carolina Beach in their research.

"It will probably be something that we're going to keep looking at for the next 12 months before we make a decision," Sharifi said, "but definitely we have an appetite to grow in that market as opportunity comes."
Ico insights

INSIGHTS

SPONSORS' CONTENT
Jasonpathfinder3

What You Need to Know About SECURE 2.0 and Its Effect on Retirement Plans

Jason Wheeler - Pathfinder Wealth Consulting
Untitleddesign2 4523114356

Cybersecurity and Productivity: Striking the Perfect Balance for Business Success

Barrett Earney - EarneyIT
Mcwhorter 0005

The Coastal Corridor is Helping Wilmington Startups With Connected Devices for Life Sciences Industry

Heather McWhorter - UNCW Center for Innovation and Entrepreneurship

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

NCino's Fourth-quarter Earnings Signal Rebound From Liquidity Crisis

Audrey Elsberry - Mar 27, 2024

In The Current Issue

Hacking Cyberdefense Shortage

A shortage of cybersecurity professionals influenced professor Ulku Clark and her team to slowly evolve UNCW’s offerings to now include eigh...


MADE: Polyhose Inc.

Polyhose manufactures and fabricates hose protection, paint hose assemblies and rubber hydraulic assemblies from its Pender County facility....


Berries, A Battlefield And More In Pender

The N.C. Blueberry Festival, founded in 2003, is one of several events in Pender County that have drawn more attention over the years....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments