A commercial real estate broker who focuses on downtown properties has opened an office on Front Street.

Joining Terry Espy, president of commercial development and real estate brokerage firm MoMentum Companies, in an office at 103 S. Front St. in downtown Wilmington are residential Realtor Jeff Chase of Coastal Properties and Joan Loch, a marketing consultant and owner of Market Resource One and the former owner of Crescent Moon.

Nearly all of Espy's commercial real estate work involves the Port City's downtown.

Referring to the commercial real estate portion of MoMentum Companies, Espy said, “Right now, we’ve got about $12 million worth of real estate listed, and I said, ‘OK, we’ve got to have a home base.’”

The 900-square-foot leased space, owned by New Hanover County Superior Court Judge Jay D. Hockenbury,  was previously home to a store called Jokilimi Island Imports Inc. Espy said Chase, who is also an artist, wanted a retail, walk-in friendly feel where there would be offices in the back and a place to display Chase’s art work in the front.

For Espy, who previously had an office in the Mayfaire area before using temporary spaces, opening an office downtown was a natural fit. Espy is president of the Wilmington organization Downtown Business Alliance and a partner in two restaurants, PinPoint and Playtpus & Gnome.

“I wanted to be downtown. I had the option to open offices elsewhere, but I came from the Glenwood South area of Raleigh where we had a community ... you could walk to lunch, you knew your neighbors,” Espy explained.

After selling Crescent Moon, a store that sells art and handmade crafts at 24 N. Front St., last year, Loch has remained part of the downtown business scene.

“The timing worked out, and she’s always been extremely active in the Downtown Business Alliance ... so it was only appropriate for her to be downtown as well,” Espy said.