Real Estate - Commercial

Real Estate High Dollar

By Cece Nunn, posted May 22, 2015
A 6,000-square-foot building occupied by a Verizon Wireless store on South College Road sold earlier this year for $3.35 million. (Photo by Cece Nunn)
An Ohio-based firm bought a 6,000-square-foot building occupied by a Verizon Wireless store on South College Road for $3.35 million in a sale that joins a long list of high-dollar commercial transactions that took place in the first five months of 2015.

An outparcel of the Lowes Home Improvement- and Sam’s Club-anchored University Centre, the store was formerly home to a Bennigan’s restaurant. The seller, WHC Realty Associates, redeveloped the building in 2006 as a build-to-suit for Verizon, according to a recent announcement from Coldwell Banker Commercial Sun Coast Partners. The Verizon store has leased the building since then.

The buyer, GS University Centre Outparcel LP, is a firm associated with DDR Corp., a real estate
investment trust that owns and manages more than 400 shopping centers, including University Centre.

“I think it was a good deal all the way around and indicative of stabilization coming back to the commercial real estate market in Wilmington,” said John Lennon, a broker and partner in  Coldwell Banker Commercial Sun Coast Partners. “There’s a lot of demand for income-producing properties, and that is a very good one.”

The Verizon store is located at 318 S. College Road in University Centre.

Here are some other high-priced deals so far this year, according to recent deeds:


Ico insights


Burrus rob headshot 300x300

Keep on the Lookout: Cameron School of Business Star Graduates Enter the Workforce

Robert Burrus - Cameron School of Business - UNC-Wilmington
Natalieenglish headshot

Becoming a Breakout City: Bring on the Remote Workers

Natalie English - Wilmington Chamber of Commerce
Jc300 dsc 2735

The Primary Way Families Break the Cycle of Poverty

JC Lyle - Wilmington Area Rebuilding Ministry

Trending News

Sweyer Property Management Announces New CEO

Staff Reports - Aug 15, 2022

Several Wilmington-area Businesses Land On Inc. 5000 List 

Johanna F. Still - Aug 16, 2022

Wrightsville Beach Mainstay To Unveil New Look And Menu

Jenny Callison - Aug 17, 2022

CIL Capital Taps Former Airport Authority Chair As Chief Strategy Officer

Staff Reports - Aug 16, 2022

New Pizzeria Opens On Oleander Drive

Justin Williams Pope - Aug 17, 2022

In The Current Issue

Borrowers Seek Adjustable-rate Perks

During recent years when interest rates were at rock-bottom levels, borrowers have kept adjustable-rate mortgages at arm’s length. But now,...

Commercial Tenants Navigate Rent Spikes

One of the realities small businesses throughout the area face when trying to find commercial space, which also include increasing rents and...

Stacking The (parking) Deck

The amount and cost of parking in urban settings is a ubiquitous topic, particularly in growing cities like Wilmington, where not everyone a...

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!



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