The historic Murchison building in downtown Wilmington is under new ownership.  Real estate investment firm Bush Watson purchased the property for $8.25 million on Aug. 10, a company representative confirmed Friday.  Cape Fear Commercial announced the sale Thursday, citing Paul Loukas and Lindsey Hess as representing the buyer in the transaction. The buyer ...

Construction is commencing at a new Lowe’s Home Improvement store in Leland Town Center, a multi-phase development off U.S. 17.  Lowe’s and property owner C&S Commercial Properties reached a deal at the end of June, according to Palmer Williams, vice president of the Fayetteville-based development firm.  Lowe’s Home Centers LLC submitt ...

Charlotte-based State Street Companies sold the former Galleria Shopping Center on Wrightsville Avenue for $37.5 million, according to a news release. The buyer of the 17-acre site, Haven at the Galleria LLC, is an affiliate of Johnson Development Associates (“JDA”) of Spartanburg, South Carolina, which also owns the Holiday Inn hotel at Wrightsvil ...

Parker Wilson, owner of a company that makes all-natural cleaning products, unintentionally missed a deadline for letting her landlord know she wanted to renew her lease.   As a result, she faced the expensive possibility of having to move the base of operations for her business, SQUEAK, from Netherlands Drive in Dutch Square off Market Street to a new location. &n ...

The owner of an historical landmark in downtown Wilmington is seeking permission from a city panel to tweak a previously approved redevelopment plan. Stamatia “Nick” Saffo of Global Property Holdings and Saffo Contractors and architect Rob Romero are asking the Wilmington Historical Preservation Commission for a height increase from about 18 feet to 35 feet ...

A New York-based real estate firm is making progress toward creating a modern industrial park on U.S. 421 after buying an 80-acre site last month. Officials with Treeline, which develops and invests in office, multifamily and industrial properties, said in a news release this week that they have signed on their first tenant in Treeline Industrial Park, 28 ...

Crews have started building a second industrial facility at Wilmington Trade Center on U.S. 421 in New Hanover County, expecting to add supply to a busy real estate sector. Edgewater Ventures, in partnership with Wilmington-based McKinley Building Corp., recently completed the first 157,610-square-foot building at the center and construction is underway on Building 2, a ...

A Chapel Hill-based conservation group has entered into a tentative purchase agreement with a developer planning a large commercial project on the Cape Fear River.  Diamondback Development voluntarily entered into a purchase contract with Unique Places to Save, the nonprofit group shared in a press release Tuesday. The contract entails the developer’s 83 acre ...

The N.C. Court of Appeals issued a ruling Tuesday with mixed results for both parties entangled in litigation surrounding the proposed redevelopment of a portion of The Cape’s former golf course into townhouses. The case is the latest in a national trend marked by high-demand housing, increasing density, lack of available land and the waning financial stability of ...

From his office in Surf City’s municipal complex, Town Manager Kyle Breuer can see proof that commercial development is on the rise in and around the Pender County coastal town.   “As we speak, I look out of my window and they are unloading materials for a new PetSmart directly in front of Town Hall, and then on the corner in front of Publix, you’v ...