Real Estate - Commercial

Oct 16, 2020

Carolina Beach Road Storage Facility Changes Hands

By Cece Nunn, posted Oct 16, 2020

A Georgia-based firm recently purchased a self-storage facility on Carolina Beach Road. Reliant Real Estate Management LLC of Roswell, Georgia, bought the 438-unit facility, 7275 Carolina Beach Road, from Inlet Watch Development LLC, according to a news release from Cushman & Wakfield. New Hanover County property tax records show the sale price was $6.85 million. ...

Oct 2, 2020

Group Works To Highlight City’s Downtown

By Jenny Callison, posted Oct 2, 2020

Downtown Business Alliance (DBA) is highly visible these days as a program it pushed for – Downtown Alive – earns high marks from business owners and customers alike.   Born of the frustration of down­town restaurateurs and retailers at COVID-19 restrictions, Downtown Alive expands those businesses’s access to outdoor space for dining or mercha ...

Oct 2, 2020

Thinking Outside The ‘box’

By Cece Nunn, posted Oct 2, 2020

The signs advertising sales are gone and the lights are out at Wilmington’s two Pier 1 stores. The national home decor, furniture and accessories retailer announced earlier this year that it would be closing all of its stores after filing for bankruptcy in February.   At Hanover Center, 3501 Oleander Drive in Wilmington, the 11,000-square-foot space that previ ...

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Short-Term Rentals, Long Term Value

Posted Oct 16, 2020
It’s been shown that when times are volatile, and investors feel uneasy about the current and near-term future stability of a market, they flock to safer investments. Gold, silver, cash, and Bitcoin have been beneficiaries of these volatile markets, but the big winner, especially in our region of the country has been real estate.

While global travel was the first to take a hit...read entire article
Oct 1, 2020

A construction project of historic proportions is chugging along at the Coastline Conference & Event Center in downtown Wilmington.  Crews are building a 125-room Aloft brand hotel that incorporates the center, which was built in the late 19th century for the Atlantic Coastline Railroad and used as its headquarters up to the 1960s. The portion of the propert ...

Sep 24, 2020

Prominent property on South College Road is up for sale after an auto dealership moved to a new facility on Market Street. The spot that previously held Stevenson-Hendrick Honda at 821 S. College Road in Wilmington has been listed for sale at a price of a little over $9.6 million.  Stevenson purchased the property in 1992. Over time the dealership grew from one ...

Sep 22, 2020

Axis Fitness opened recently at River Place in downtown Wilmington, the 13-story mixed-use project’s first commercial tenant to open its doors. The gym’s 24-hour access key fob service is expected to be up and running by Oct. 5, said owner Mike Barnhart. The first of the year could see a grand opening for the gym (its sign on River Place is pictured below). ...

Sep 4, 2020

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 ...

Sep 1, 2020

Raleigh-based McConnell Golf is the new owner of Porters Neck Country Club after a $4 million transaction that closed Monday. The change in ownership was the result of a Chapter 11 bankruptcy plan filed last year by Porters Neck Country Club Inc.  The northern New Hanover County property includes an 18-hole golf course, a clubhouse, a driving rang ...

Aug 27, 2020

The owners of the event business that operates out of the Brooklyn Arts Center + The Annex in downtown Wilmington bought the center's real estate in a deal that closed last week. Jay Tatum and his wife, Tara Tatum, paid nearly $2 million for the historic property that developer Dave Nathans revived in 2011. The transaction includes the church, The Annex and the adja ...

Aug 25, 2020

Oak Island Motel Changes Hands

By Cece Nunn, posted Aug 25, 2020

A vacation rental firm based in Surf City aims to gain a foothold on Oak Island with the purchase of Island Resort & Inn. Carolina Retreats bought the 22-room property, at 500 Ocean Drive in the town of Oak Island, for $1.165 million from the Canning family. Don Harley of Coldwell Banker Commercial Sun Coast Partners represented the sellers in the transaction. &q ...

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