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:
Wine Retailer Preps For Summer Opening At Renaissance Market
Jenny Callison
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May 18, 2022
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ILM Hotel Developers Seek 65-foot Height Variance
Johanna F. Still
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May 17, 2022
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Coffee Shop Owner Plans To Launch Coworking Space In June
Cece Nunn
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May 17, 2022
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Mortgage Firm Moves To Office At Mayfaire Town Center
Cece Nunn
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May 18, 2022
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After Delays, Quality Chemical Expansion Construction Could Wrap By Next Year
Johanna F. Still
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May 18, 2022
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Karin Kassab is a psychologist and founder of Clarity Counseling Center in Wilmington, a business she was able to launch by blending her int...
Founders Evonne and Don Varady started with a small cafe on Racine Drive in 2011....
The nonprofit started as a grassroots sea turtle protection effort by Karen Beasley, who died from leukemia in 1991 at the age of 29....
The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.