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Real Estate - Commercial

Industrial Land, Warehouse Property Sell For $1.3M

By Cece Nunn, posted May 7, 2015
Correction: The headline for this story has been changed to correctly describe the properties that sold. 

About 10 acres of industrial land off Carolina Beach Road, along with a separate warehouse property on 2 acres, sold Monday for more than $1.3 million, according to a deed filed in New Hanover County and property tax records.

No other information about the buyer's plans for the property was available Monday from KILM Investment, the limited liability company that now owns the land at 239 Raleigh St. The company also purchased about 2 acres at 451 Landmark Drive (included in the purchase price) where there's a 9,375-square-foot warehouse, according to the deed and Loopnet.com. The seller for both properties was Glenn Howard Garrett, the deed states.

Cody Cress and Tyler Pegg with The CRESS Group of Coldwell Banker Commercial Sun Coast Partners represented the buyer in the transcaction.   

The Raleigh Street land is near Vertex Rail Technologies, a new company that plans to build rail cars in a factory at 202 Raleigh St.

The organizer of KILM Investments is Robin Whitley Hood II, according to N.C. Secretary of State records. Hood is president of Robin Hood Container Express Inc., a company with terminals in the Wilmington area; Charleston, South Carolina; and Savannah, Georgia, according to the company’s website. Its corporate headquarters are in Benson. The website also says the firm, which specializes in import and export intermodal freight, started with one driver in 1984 and currently operates about 40 drivers in each location year-round.

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