Another speculative building could be in the works for Pender Commerce Park, pending an upset bid period on a land purchase from the county.

Chris Ramm, manager of Ramm Captial Partners LLC, is looking to purchase lot 6 in the Pender Commerce Park following approval by county commissioners earlier this month, Ramm said Wednesday.

Pender County commissioners approved a purchase agreement for the lot in the industrial park, which is now in the upset bid process period, prior to being officially under contract. The upset bid period ends Oct. 26, Ramm said. 

The purchase price for the 20-acre lot in the industrial park, which is owned by Pender County, is $811,200, according to county documents. 

Plans are to develop another spec building similar to what was recently constructed in Pender Commerce Park on lot 2 of the industrial park.

“Once we get through the upset bid process, we will immediately start our due diligence and planning our next spec building,” Ramm said, adding that the new spec building would be very similar in design and quality of the existing development.

Ramm and a development team under the name Pender Commerce Park Partners 1 LLC built and is currently marketing the $8 million speculative building, which officials say has gained interest from potential tenants.

“While this deal is certainly not done, we are optimistic about the potential and are appreciative of Chris Ramm and his partners continued belief in the region as a serious business destination,” said Wilmington Business Development CEO Scott Satterfield, in an email Wednesday.

WBD is a public-private organization that facilitates economic development and business recruitment and retention efforts in Wilmington, New Hanover and Pender counties.

Satterfield said, “Chris Ramm’s investment on both projects is timely – the region will have attractive, available industrial space just as U.S. industry looks to re-shape supply chains and tailor their expansion strategies for the post-pandemic economy."