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Real Estate - Commercial

Fulton Station Sees Tenant Increase

By J. Elias O'Neal, posted Aug 31, 2012

Nestled along the gateway to Carolina Beach in the midst of Wilmington’s suburban landscape, the Fulton Station shopping center is beginning to see increased interest from prospective regional and national tenants. 

The 31,500-square-foot shopping plaza, 3715 Patriot Way, was constructed in 2004 and caters to shoppers in the heavily residential south Wilmington and Monkey Junction markets. 

The site also fronts two busy thoroughfares – South College Road and 17th Street. Those two roads together average more than 32,000 cars a day, according to city transportation data.

“Fulton Station is in a great area of town,” said Nicholas Silivanch, vice president of retail acquisitions and leasing for Wilmington-based Coldwell Banker Commercial Sun Coast Partners and principal broker with the firm’s Team Silivanch, which is leasing the property.  “There is a lot the center offers to potential users, and we look forward to getting to full occupancy.” 

The center could be well on its way. 

After last quarter landing new tenants Moonpies and Fireflies, an item-monogramming operation, and New You Inspired, a Christian-based fitness program for women, the center is now 81 percent leased, Silivanch said. That’s up from 67 percent before Silivanch’s group took over primary leasing activity for the center in February. 

“The property had seven units, and we are now down to four remaining spaces,” Silivanch said. “That’s cutting roughly 42 percent of the vacancy.” 

Silivanch said there were multiple users looking to lease space at the shopping center. He added that the site also has one remaining restaurant space open. 

“We have two users looking at [units] 115 and 117, which would be great additions to our center and would leave us with just two units,” Silivanch said. “There is a restaurant unit ready to go. We’re looking for a restaurant tenant to complement Slice of Life Pizza, like an Oriental or burger restaurant.”

Fulton Station is positioned in an area that’s also seeing continued growth.

As single-family permits surge and existing home sales begin to mount, south Wilmington and the Monkey Junction areas are adding more rooftops and people – thus helping to market the center to prospective clients. 

The median household income also remains strong, easily exceeding $58,000 a year for an average family in the area, according to the brokerage firm’s market report.

Here’s the current line up at Fulton Station: 

A. Slice Of Life Pizzeria & Pub 

B. Armed Forces Recruiting Center

C. AVAILABLE 

D. AVAILABLE 

E. AVAILABLE

F. AVAILABLE

G. New You Inspired

H. hairXperts

I. Nail Tech

J. Moonpies and Fireflies 

K. Corning Credit Union

L. Secure Watch 

M. Tutoring Solutions 

N. Allstate Insurance 

O. Atlantic Spinal Rehab 

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