Real Estate - Commercial

Oleander Drive Office And Retail Complex Fully Leased, Sold Out

By Cece Nunn, posted Jun 22, 2021
Bradley Creek Station on Oleander Drive is completely leased and sold out of units. (File photo)
An 80,000-square-foot office and retail complex on Oleander Drive in Wilmington is sold out and fully leased, developers said this week.

When upfits are complete on the remaining units, Bradley Creek Station will hold 17 companies. The latest to join the development is the New Hanover County branch of Farm Bureau Insurance, which leased 7,655 square feet. 

The insurance company will move its Mayfaire office, 6752 Parker Farm Drive, to the newly leased space at Bradley Creek Station, 5815 Oleander Drive, said Dwayne Graham, local agency manager.

"We've outgrown it over the years and it's time to move on to a bigger place that we can expand into," Graham said of the agency's 3,500 square feet at The Offices at Mayfaire.

The agency also has an office at Hanover Center off Independence Boulevard.

Graham said the mix of businesses at Bradley Creek Station was a draw for Farm Bureau. Other occupants of the complex include Angel Oak Home Loans, RE/MAX Executive, First Carolina Bank, Head to Toe Day Spa & Salon, Crabby Chic and Big Sky Design, among others. 

He said the agency plans to move into its new space by Nov. 1.

In total, 53,000 square feet of Bradley Creek Station was purchased and the remaining square footage was leased, said Parker Anderson of the project's development firm, SAMM Properties Inc.

Developer Steve Anderson of SAMM Properties, who also developed The Offices at Mayfaire, said activity at the complex "significantly increased starting in February and March to where today we are 100%. At this point, I literally wish we had another entire floor, we've had that much activity."

For example, four buyers bought six units at Bradley Creek Station for nearly $6 million in sales announced earlier this year.

"Low interest rates are driving so much of this," Steve Anderson said.

SAMM Properties has an office at the complex that is expected to open in July.

Steve Hall, partner at Wilmington-based Maus, Warwick, Matthews & Co., represented the seller, Bradley Creek Station LCC, in the leases and sales. Other members of the development team included Brandon Lisk of McKinley Building Corp.; Mark Loudermilk of Becker Morgan; Phil Tripp of Tripp Engineering; and Mike Bouton of MSB Development.

The units of occupants that have not yet moved in and opened could be complete by the end of this year or the beginning of next year.

"Within the next six months, we should be fully open and we'll look forward to a big announcement and grand opening at that point," Steve Anderson said.
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