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1725 New Hanover Medical Center Drive
Sold – $5,314,590.00
Seller: WILCAR Properties
New Real Estate Product Nets one of the best Cap Rate’s in Southeast North Carolina
ECCRE is proud to announce the successful sale and closing of 1725 New Hanover Medical Center Drive, a NHRMC leased building for $5,316,000.
The sale was the product of ECCRE’s signature real estate service named REAS – Real Estate Analysis Strategy. Initially developed nearly 10 years, the firm has recently begun focusing on identifying real estate assets and owners who could benefit from having a real estate professional included in their financial planning. The process begins with ECCRE completing an analysis of an owner’s real estate assets in relationship to market conditions (market lease rates, competing properties, interest rates, unemployment and the stock market). To date, the partners and brokers of ECCRE are working with close to 20 clients on this unique real estate investment and retirement strategy.
The property at 1725 New Hanover Medical Park Dr is leased by NHRMC. Given the favorable economic conditions, the property, and owners were identified and approached by John Hinnant, Vice President of ECCRE and Nick Silivanch, a Partner with ECCRE. After review of the interest rate trends and predominate Cap Rates, the owners agreed to work with ECCRE on the disposition of the 17,000 +/- medical office building. At well over $300 per square foot, the sale generated nearly 100% more than the prevailing dollar per square foot rate that typical office buildings sell for in the market and a Cap Rate of 6.1% (one of the best recent cap rates for the Wilmington Commercial Real Estate Market).
For more information on REAS, or a free, no obligation analysis of your real estate holdings, contact ECCRE today.
For the PDF of the Press Release Click Here NHRMC Closing Press Release
Eastern Carolinas Commercial Real Estate is excited to announce the leasing of 14-1 Doctors Circle at the Brunswick Medical Mile in Leland! This medical units was recently leased to a health care provider.
Brokers Garry Silivanch and Bernadette Silivanch represented the Landlord in the transaction.
ECCRE is excited to announce the closing of 720 Market Street in Downtown Wilmington. This 2,351 SF +/- mixed use space with office space on the ground floor and living space on the second floor.
The seller for 720 Market was relocating to the west coast, and we are proud that he chose to work with our company after interviewing 4 other firms. When sellers give ECCRE the chance to compete for a listing; it requires we demonstrate our knowledge of the market and gain our clients’ confidence when making both small and major life decisions.
ECCRE Broker John Hinnant represented seller in this transaction.
ECCRE is excited to announce the closing of 6420 Amsterdam Way. This 1,320 SF +/- open floor concept is fully conditioned and offers a 12′ overhead door and 14′ ceilings. The quick sale of 6420 Amsterdam Way demonstrates the shortage of this property type in our market. If you think your commercial or investment property might be underperforming, please call our office for a free, no cost analysis.
ECCRE Broker John Hinnant represented the seller in this transaction.
ECCRE is excited to announce the closing of 2801 Market Street. This office space is located along one of the busiest corridors in Wilmington. This transaction occurred exceptionally fast with a limited due diligence period that the sellers were happy to entertain.
ECCRE Broker David Branton represented the seller in this transaction with Adam Nicholas of Keller Williams Realty representing the buyer.
Category : Lease Announcement
ECCRE is excited to announce the recent lease signing with Coastal Hemp in Porters Neck Center. This 1,534 SF unit is located in the second phase of the development closed at $22PSF NNN.
Coastal Hemp is a natural and organic boutique that specializes in the sale of Hemp, organic cotton, bamboo and other natural products.
Nicholas Silivanch with ECCRE represented the Landlord and Eian Lundy with Carolina Investment Properties represented the Tenants in this transaction.