Print
Real Estate - Commercial

Logistics Firm Buys Ashes Drive Office Buildings For $7.4M

By Cece Nunn, posted Apr 30, 2018
The offices at 1013 (shown above) and 1011 Ashes Drive were recently purchased by MegaCorp Logistics. (Photo courtesy of Coldwell Banker Commercial SunCoast)
MegaCorp Logistics recently bought two class-A office buildings on Ashes Drive, in the Landfall/Mayfaire submarket, for $7.4 million, brokers announced Monday.

In the transaction, the logistics company acquired 1011 and 1013 Ashes Drive, consisting of 30,595 and 16,800 square feet respectively, from Ashes Drive LLC, according to a news release from Wilmington-based commercial real estate firm Cape Fear Commercial. MegaCorp officials plan to renovate and occupy 1011 Ashes Drive while continuing to lease all space at 1013 Ashes Drive out to other organizations until such time that it requires additional square footage, the release stated.

Senior Vice President Spruill Thompson of Cape Fear Commercial negotiated the transaction on behalf of the buyer, while Coldwell Banker Commercial SunCoast brokers Cody Cress and Tyler Pegg of The CRESS Group represented the seller. 

"We think it's a great fit for them and it was perfect timing for us" and the company, Cress said, because there's limited inventory of office space of that size in the Landfall/Mayfaire submarket.

The CFC release said the firms worked closely with the seller’s in-house consultant, Gavin Howe, and Faison Sutton of Murchison Taylor & Gibson PLLC to complete the transaction.

Cape Fear Commercial had also assisted MegaCorp in the acquisition of its current office buildings at 527 Causeway Drive and 7040 Wrightsville Ave., and MegaCorp has engaged CFC to list both properties for sale.

“Spruill Thompson and Cape Fear Commercial continually do a good job for us,” said T. Ryan Legg, owner of MegaCorp Logistics, in the release. “Cape Fear Commercial helped me to lease MegaCorp’s first office in Wilmington when I had just four employees and has assisted me to finding facilities for our growing company over the years. We are pleased to announce that MegaCorp now employs 134 people in the Wilmington office.”

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Cd

Don't Forget the "B"

Hoop Morgan - The Forté Institute, LLC
Earuth300x300

Building and Strengthening our Local Community

Ea Ruth - Cape Fear REALTORS®
Screenshot2022 01 06at338 162234623

Genesis Bridge: Automating Connections to Contracts

Girard Newkirk - Genesis Block

Trending News

After County Plea, Treasurer ‘neutral’ On Whether Project Grace Gets Vote Next Meeting

Johanna F. Still - Aug 8, 2022

Three Locals And One Distillery Compete In Statewide Chef Showdown

Jenny Callison - Aug 8, 2022

New Hanover Community Endowment To Share Details On Grant Criteria

Staff Reports - Aug 8, 2022

In The Current Issue

Schools Face Nursing Shortage Crises

The pandemic-induced havoc on hospitals around the country still ricochets across systems today. A dire trend accelerated and emerged: a sho...


Beach Equipment Rentals Sizzle

For some beachgoers, their perfect day is lazing on the shore, soaking up rays. For others, it’s water sports or maybe biking alongside the...


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...

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!


Galleries

Videos

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