Print
Real Estate - Commercial

National Seller Of Used Cars Plans To Drive Jobs To Market St.

By Cece Nunn, posted Jun 9, 2015

A national company new to the Wilmington area plans to drive jobs and used cars to Market Street.

Virginia-based car retailer CarMax Inc. has nearly 15 acres at 6016 and 6020 Market St. under contract, according to a purchase and sale agreement recorded June 5 in New Hanover County.

“We have identified this area as a good fit for our current growth plan,” said Michelle Ellwood, spokeswoman for CarMax, in an email this week.

She added that no timeline for the location has been announced.

CarMax typically invests between $10 and $25 million in each store, she said, and stores typically have between 200 and 400 vehicles in inventory.

“These will all be used vehicles,” Ellwood said. “As of today, we have 147 locations nationwide, and right now we are growing at 13 to 16 stores per year for the next several years. Our new stores can bring 15 to 100 jobs to a community.”

She said CarMax has been on Fortune Magazine's 100 Best Companies to Work For list for 11 years in a row.

CarMax announced in February that the company was recruiting for 2,500 positions in locations across the country, according to a BusinessWire.com story. According to the story, most of the open positions were in sales, with additional positions in service, purchasing and the business office.

The closest current CarMax location is in Fayetteville.

The sellers of the Market Street properties are RSW Properties and TF Holdings Limited Partnership, according to the agreement document. Raiford G. Trask Jr. is listed as a general partner with both companies and signed the agreement, as did CarMax Inc.'s vice president of real estate K. Douglass Moyers.

In an online MLS listing, the asking price for 6016 and 6020 Market St. was $4.65 million. The agreement document does not include a price.

Howard Coupland, vice president of brokerage for Cape Fear Commercial, is representing the seller in the transaction, and Ellwood said Currier Properties of Charlotte is representing CarMax. Coupland said Cape Fear Commercial's policy is to not disclose any specific details about a transaction until after it closes.

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Junegunter teachinghorse headshot 5721115557

What Is Next?

June Gunter - TeachingHorse
2022052 75 142344351

Bridge

Natalie English - Wilmington Chamber of Commerce
Cfss headshots parker robert webversion 21422121214

23 Reasons to Go Solar in 2023

Robert Parker - Cape Fear Solar Systems

Trending News

Affordable Housing Investors Buy Lakeside Villas In $29M Deal

Staff Reports - Jan 26, 2023

Work Continues On Covey, Envisioned As Midtown’s Neighborhood Nest

Miriah Hamrick - Jan 25, 2023

The Half Takes A Bite Out Of New Markets With Second Location

Miriah Hamrick - Jan 25, 2023

City To Begin Due Diligence On Potential Thermo Fisher Building Purchase

Johanna F. Still - Jan 25, 2023

Novant NHRMC Unveils Its Neurosciences Institute

Staff Reports - Jan 25, 2023

In The Current Issue

Preserving Wealth, For Family And History

Plans for major improvements fell by the wayside, delayed by life and the home’s overwhelming degree of deterioration, which placed the prop...


Chill Couple Grows Ice Cream Stores

Boombalatti’s Homemade Ice Cream became a local favorite when it first opened in The Forum on Military Cutoff Road in 1999. When Wes and Kri...


Local, State Efforts Target Service Sector

Many industries have started to recover from the roiling effect the pandemic had on the labor market, but nearly three years after the first...

Book On Business

The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2022 Power Breakfast: Wilmington's Most Intriguing People - Spence Broadhurst & Hannah Gage
2022 Power Breakfast: Wilmington's Most Intriguing People - George Taylor
2022 Power Breakfast: Wilmington's Most Intriguing People - Mike Ford
2022 Power Breakfast: Wilmington's Most Intriguing People - Meaghan Dennison
2022 Power Breakfast: Wilmington's Most Intriguing People - Rhonda Bellamy