Driving through Wilmington and noting the increased density, along with the many other changes that have taken place over the years, I’m often struck by the quote from Mark Twain, advising to “buy land, they’re not making it anymore.”
The lack of space for new development and infill projects is certainly a problem that we are currently facing, and one that is (obviously) not going to go away. This is why adaptive reuse projects are so essential to the economic prosperity and viability of our region moving forward.
Taking the long history of Wilmington into account, it’s not all that unusual to see large commercial buildings go vacant and then remain available on the open market for months, sometimes years. Part of the explanation for this is that these properties were designed with a unique business in mind, that they would take extensive up-fitting to accommodate something new, and there is a relatively small pool of buyers searching for these types of properties.
This is where the expertise and creativity of our commercial REALTORS® really shines, because ‘the next big thing’ is only a step away from the current reality. All it takes is someone with the vision to dream big and see what’s possible, when others may only see dead ends. Just consider the following examples:
Intracoastal Angler To Grow With Two New Hampstead Stores
Emma Dill
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Apr 30, 2024
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Coyne Returns To Law Firm's Wilmington Office
Staff Reports
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Apr 30, 2024
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Wilmington-based Fishing App Wins NC IDEA Grant
Audrey Elsberry
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Apr 30, 2024
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Apartment Plans Move Ahead On Wooster Street
Emma Dill
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Apr 29, 2024
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Design-build Firm Welcomes Falvey As Director
Staff Reports
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Apr 30, 2024
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When two Surf City dudes, Cody Leutgens and Steve Christian, realized the community they loved had a shortage of good, casual restaurants, t...
As Leland’s residential development booms, town leaders are taking steps to ensure that land zoned for commercial development meets its full...
The intersection of medicine and technology sits at the core of Morris Nguyen's biotech startup, Predicate Healthcare Performance Group (HPG...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.