Print
Real Estate - Commercial

On Market St., Former Coastal Beverage Co. Facility Sells For $4.8M

By Cece Nunn, posted Nov 27, 2019
Coastal Beverage Co.'s facility off Market Street in Wilmington changed hands Monday in a $4.8 million deal. (Photo by Cece Nunn)
Crews worked Wednesday on the beginning of an overhaul of the former Coastal Beverage Co. facility on Harley Road in Wilmington.

Kirk Englebright of Englebright Development, who is also the owner of A Goodnight Sleepstore and other mattress and furniture companies, bought the property Monday for $4.8 million through Englebright and Long Holdings LLC.

The seller, Coastal Beverage Co., moved to Pender Commerce Park in October.

Englebright's purchase of 301 Harley Road and 215 Green Meadows Drive includes 11.5 acres and a more than 90,000-square-foot warehouse and office structure, as well as a 5,000-square-foot building occupied by A&I Fire and Water Restoration.

"This is where we're going to run everything out of, our development company, our holdings company, our bedding companies and our furniture companies," Englebright said during a tour of the property Wednesday. "We'll bring it all internal to one facility."

He currently has a main office at 424 S. College Road and other scattered offices and warehouses. Englebright's businesses will occupy about 45,000 square feet of the facility he bought this week. Wilmington-based Hipp Architecture is working on the design.

"We're going to occupy a percentage of it and we're going to lease out a large piece of it to another organization," Englebright said.

The purchase will allow his endeavors to expand, he said. In addition to office space, the portion Englebright's businesses will occupy allow for a showroom and an area from which bedding can be shipped. 

"Anything we can logistically handle out of here within a certain radius, we'll definitely ship out of here," Englebright said. "This is going to allow us to ramp up inventory dramatically."

The property also has room for an Englebright Development project.

"What we're going to be doing in 2020 is we're going to develop Phase 2 over there," Englebright said, pointing to an empty paved area behind the former Coastal Beverage Co. building. 

"Our game plan is to build another 100,000 square feet, and that will put us close to 200,000 total," he said.

Jeremy Phillips, broker in charge of Environments Unlimited Commercial Real Estate, represented Englebright in the transaction, while Will Leonard of Wilmington-based commercial real estate firm Cape Fear Commercial was the listing agent.

Englebright said the Harley Road property was a rare find with its square footage and land size.

"You don't find it in Wilmington anymore," he said. "You've got to go to Pender County or Brunswick County."
Ico insights

INSIGHTS

SPONSORS' CONTENT
Atromitos micheallegady headshot

Medicaid Transformation: “The times they are a’changin’" (hopefully)

Michealle Gady - Atromitos
Headshotrosaliecalarco 1182131047

Beware of Social Media Scams

Dave sweyer 300 x 300

Allowing Pets at Your Rental Property: Why It's a Good Choice

Dave Sweyer - Sweyer Property Management

Trending News

Murchison Building Downtown Sold For $8.25M

Johanna F. Still - Aug 12, 2022

With Home Sales Down In July, Realtors Struggle To Choose 'sweet Spot' Prices

Cece Nunn - Aug 12, 2022

Local Film Projects Building Sizeable Spend; New TV Series Announced For September

Jenny Callison - Aug 12, 2022

In The Current Issue

Film Focus: Printing The Scene

Port City Signs & Graphics "does everything for their set in the way of decals, magnets, backdrop items, canvas art, vehicle graphics and se...


Film On Rebound; New Horse Enters Race

New soundstages in Wilmington are set to be constructed toward the end of the year – marking activity that appears hasn’t happened since the...


Schools Face Nursing Shortage Crises

The pandemic-induced havoc on hospitals around the country still ricochets across systems today. A dire trend accelerated and emerged: a sho...

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100