A commercial real estate investor bought a Wilmington shopping center for $4.7 million on Jan. 5, according to a recent deed.

Wrightsville Beach resident Jeff Turpin purchased Fulton Station, a 31,500-square-foot center at 3715 Patriot Way, from STP LLC as an investment, Turpin said Friday.

He said one of the main reasons he wanted to invest in the center is its location at a major intersection, 17th Street and South College Road, in a highly populated area. Built in 2004, Fulton Station includes a Slice of Life Pizzeria & Pub and a Corning Credit Union, among other stores and businesses.

“The previous owners have done a good job of building up the center. You can see investment out there,” Turpin said, also pointing out some recent and planned projects on nearby parcels as examples. They include the rebuilding of Smithfield's Chicken 'N Bar-B-Q in front of the center's main buildings and a Publix grocery store under construction less than a mile away from Fulton Station. Last year, New Hanover County purchased 2.5 acres at 3802 S. College Road behind the center for the future construction of a new public library. 

Turpin’s Fulton Station purchase also included Bruster’s Real Ice Cream, 4414 S. 17th St. Intracoastal Realty broker Marcello Caliva represented Turpin in the transaction, while Argie Franck, also an Intracoastal Realty broker, represented STP LLC.

A flurry of leasing activity last year included the upcoming additions of an Anytime Fitness and a True Rest Float Spa to Fulton Station’s list of tenants, as well as an expansion of Corning Credit Union's space there.  

Josh Slack and his wife, Janelle, the owners of True Rest, said they plan to open their business by March. They also chose Fulton Station because of its location, leasing unit 131.

“It’s really central, close to our residence,” Janelle Slack said. “That was the best location that we found when we were searching.”

Anytime Fitness, a 24-hour gym, is also expected to open soon, Turpin said.

Turpin was formerly CEO of VPS Convenience Store Group, which at its peak included 430 stores. These days, Turpin has turned his attention to investing in commercial real estate.

He said he plans to hang onto Fulton Station as an investment, with Wilmington-based firm Cape fear Commercial handling the property management. Eastern Carolinas Commercial Real Estate represented the previous owner in the Anytime Fitness, Corning Credit Union expansion and True Rest Float Spa transactions, among other recent leases.