Print
Real Estate - Commercial

Texas Firm Buys Property At Carolina Beach Road And Independence For $1.55 Million

By Cece Nunn, posted Jan 8, 2016
A Texas-based real estate development firm has bought property at Independence Boulevard and Carolina Beach Road, including 1.8 acres where a gas station and convenience store are planned, for $1.55 million, according to a deed recorded Dec. 31. 

In all, the transaction involved about 5 acres. 

"We're under contract to a user on the hard corner," said Nicholas Silivanch, partner and vice president of retail at Eastern Carolinas Commercial Real Estate, which represented the buyer, Leon Captial Group, in the purchase of the property from Independence Ventures LLC. 

Although Silivanch wouldn't say who the user is, site plans submitted to the city for part of the property purchased, 3739 Carolina Beach, show a Circle K under development. The plans by GreenbergFarrow engineering firm of Atlanta propose a nearly 6,000-square-foot convenience store and fueling stations and are currently under review by city officials, according to the city of Wilmington's project tracking website.

The remaining acres that were part of the buy, which include a retention pond, will be marketed for a different use. 

"We're looking for either a sale, build-to-suit or a ground lease for it," Silivanch said.

John Hinrichs of Commercial Realty Company represented Independence Ventures in the sale to Leon Capital Group.

New homes and other new businesses are on the way to sites close to the property, including a 55,000-square foot Stone Theatres movie theater expected to be open before the end of 2016.

"It's a really hot, up and coming area of town with the development that the Camerons are doing, the growth in the residential market, and the growth in the retail market creating a prime corridor for development and growth," Silivanch said.

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign2

The Importance of Real Estate Appraisals

Steve Mitchell - Cape Fear REALTORS®
2022052 75 142344351

Bridging Futures: The Case for Toll Funding in Wilmington’s Cape Fear Memorial Bridge Revamp

Natalie English - Wilmington Chamber of Commerce
Untitleddesign4

Paving the Way to Better City Streets

Tony Caudle - City of Wilmington

Trending News

EPA Makes $3B National Announcement At Port Of Wilmington

Audrey Elsberry - Feb 28, 2024

OsteoStrong Opens On College Road In Wilmington

Emma Dill - Feb 28, 2024

Patricia Kusek Resigns From Endowment Board

Audrey Elsberry - Mar 1, 2024

Polyhose To Double The Size Of Its Wilmington-area Facility

Emma Dill - Feb 29, 2024

Report Finds Economic, Environmental Impact Of N.C. Railroads

Audrey Elsberry - Feb 29, 2024

In The Current Issue

Fallout From Natural Disasters, Pandemic Puts Strain On Insurance Companies, Consumers

New arrivals to the North Carolina coast are often pleased with the amount of house they can buy here from the proceeds of their home in lar...


Born To Create Affordable Housing

The competition is stiff, and the work is hard, but Stephanie Norris wouldn’t give up her job for anything....


Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments