Print
Real Estate - Commercial

After Shoe Store Walks, It's Bed Time At S. College Road Center

By Cece Nunn, posted Jul 25, 2019
A Goodnight Sleepstore will fill the space on South College Road that was previously occupied by Payless ShoeSource, which filed for bankruptcy and closed stores earlier this year. (Photo by Cece Nunn)
A busy shopping area near the University of North Carolina Wilmington that lost a retail tenant to bankruptcy this year is getting a new one soon.

Mattress retailer A Goodnight Sleepstore will fill the space previously occupied by a Payless ShoeSource at 348 S. College Road, according to an announcement from Eastern Carolinas Commercial Real Estate (ECCRE).

The owner of A Goodnight Sleepstore, Kirk Englebright, who also owns Wilmington Furniture & Mattress Co. and The Mattress Capital, said the 801 S. College Road location of A Goodnight Sleepstore will remain where it is, while the new location will mark A Goodnight Sleepstore's second storefront in the Port City.

The demand for mattresses is evident because of the area's growth, Englebright said.

"With the housing development taking place, the university, and there's apartment complexes being built on every corner of the town, there's a need," he said.

He also said Mattress Firm filing for bankruptcy last year and closing stores, including in Wilmington, has led to an increase in his business. Englebright's mattress store portfolio continues to grow, with five locations of A Goodnight Sleepstore projected to open in the Raleigh-Durham market this year: two in September, two in November and the fifth in December, he said.

"We've been busy," Englebright said.  

Although a grand opening for the second Wilmington location of A Goodnight Sleepstore is expected next month, the transaction took some patience and sole-searching on the part of the landlord, according to a recent announcement.

Earlier this year, news stories announced that Payless ShoeSource had filed for bankruptcy and planned to close its 2,500 stores; however, the company had previously filed for bankruptcy protection in 2017.

That left a question mark over the store in Wilmington that occupied a unit in a two-unit center at 348 S. College Road for numerous years. The property, an outparcel of Sam's Club-anchored University Centre, is called Hawk Center and belongs to Stacey Wester of Hawk Commercial Properties, according to the ECCRE release.

Wester sought the help of ECCRE on how to address the situation, said Nicholas Silivanch, partner in ECCRE, in the release.

"The first attempt was unsuccessful, but the second time was the charm with Payless filing bankruptcy in [February] of 2019," the release stated.

Wester and Silivanch created a strategy to help move Payless from the space and backfill the unit, the release stated. Eventually, Englebright started a conversation with Silivanch on the possibility of leasing the space once the shoe store left it. 

"Without having a timeline officially from Payless on vacating, it was hard to effectively promise anything beyond general terms that the landlord would be looking for," the release stated. "At the end of May, the landlord received word that the  space would be returned in June. Reaching back out to Kirk Englebright and his broker Baker Bell with Bell Commercial, a deal was finalized on a long-term lease for the 2,530-square-foot suite."

A grand opening for the new South College Road location of A Goodnight Sleepstore is set for Aug. 9.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign4

Paving the Way to Better City Streets

Tony Caudle - City of Wilmington
Headshots march websized 2

Is Your Commercial Roof Ready for April Showers?

David Grandey - Highland Roofing Company
Headshotrosaliecalarco 1182131047

The Government is Calling? Think Again!

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

Rezoning Could Bring 123 Townhomes To Growing Leland Corridor

Emma Dill - Mar 25, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

In The Current Issue

Topsail-area Realtors Share Updates

Pender County Realtors recently shared updates about the coastal market at an event hosted by the Wilmington-Cape Fear Home Builders Associa...


Park Progress

The planning for Pender Commerce Park began in the early 2000s when the county wanted to create an economic driver on its largely rural west...


Q&A: Andrews Reflects On Leadership

Pender County Manager David Andrews is slated to retire this summer after 33 years in local government....

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