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:
Michael Jordan Returns To Wilmington To Celebrate Clinic
Emma Dill
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May 7, 2024
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Wilmington Planning Leaders To Consider New Apartments, Gas Station
Emma Dill
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May 8, 2024
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Done Early: Cape Fear Memorial Bridge To Fully Reopen Wednesday
Audrey Elsberry
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May 7, 2024
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Wilmington IT Service Provider Acquired By National Firm
Audrey Elsberry
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May 8, 2024
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Quincy Named Dual General Manager Over Two Hotels
Staff Reports
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May 7, 2024
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Novant Health Heart & Vascular Institute has incorporated a recent FDA-approved treatment for AFib, or atrial fibrillation, as an option for...
As Southeastern North Carolina’s only commercial mead maker, Retro Meadery has given many local customers their first taste of mead – a ferm...
Backed by years of biologics formulation development for mRNA vaccines, monoclonal antibodies and peptide drugs, Ying Wang, associate profes...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.