Print
Real Estate - Commercial

Investors Buy Wilmington Shopping Center, Office Building

By Cece Nunn, posted Sep 4, 2020
Willow Woods Shopping Center on Oleander Drive sold recently for $2.5 million. (Photo courtesy of Cape Fear Commercial)
A shopping center and an office building in Wilmington recently changed hands in two separate transactions, brokers said this week.

Investors purchased Willow Woods Shopping Center at 5424 Oleander Drive for $2.5 million, according to an announcement from Wilmington-based commercial real estate firm Cape Fear Commercial.

The Willow Woods buyer was Hospitality Holding, and the seller was Woody Commercial LLC, tax records show.

Cape Fear Commercial's broker in charge Paul Loukas, along with partner Mike Brown, represented the seller in the transaction, which closed in early August.

“It’s incredible to think how fast the investment sales market has rebounded since the start of the pandemic," Loukas said in the announcement. "While we had to get creative to keep deals alive during the initial shutdown, activity and pricing is now getting back to where we were pre-COVID.” 

Tenants in the approximately 22,000-square-foot center include Alliance Fitness Center and Rebel Hot Yoga. The buyer was represented by Steve Hall, partner with another Wilmington-based commercial real estate firm Maus, Warwick, Mathews & Co.

Loukas and Patrick Riley represented the seller, Cerulean LLC, in the more than $3.1 million sale of the 23,000-square-foot, multi-tenant Class-B office building at 2033 Corporate Drive.

The buyer was Cary-based Corporate Dr 2033 LLC.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Headshot2 3182020512

Loud HVAC Noises Often Point To Hidden Issues

Chris Jones - Green Dot Heating & Air
Tommytaylor ceo unitedway

Hope Is Not Quarantined

Tommy Taylor - United Way
Micheallegady cfcl

How The Cares Act Can Help You ‘CARE’ For Your Favorite Charitable Causes

Michealle Gady - Cape Fear Literacy Council

Trending News

NHRMC Plans $210M Hospital In Scotts Hill

Neil Cotiaux - Oct 19, 2020

Apartments, Townhomes Coming In New Project At Echo Farms

Cece Nunn - Oct 19, 2020

Next Glass Acquires Georgia Beverage Tech Firm

Christina Haley O'Neal - Oct 19, 2020

In The Current Issue

Health Care Heroes: Health Care Executive

The Health Care Executive category honors an individual whose job performance is considered exemplary by people within their organizations,...


Health Care Heroes: Volunteer

The Volunteer category honors a volunteer at a health care provider or other health-related organization who is considered exemplary by peop...


Health Care Heroes: Nurse

The Nurse category honors a nurse whose performance is considered exemplary by patients, peers and other health care providers. ...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`