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    Monthly Archives: October 2021

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    “Market Research Firm To Bring Tech Hub, 40 Jobs To Wilmington” – Wilmington Business Journal

    Tech business expansion in Wilmington just got bigger with the addition of of a new tech hub in the downtown area opening in November! This upcoming marketing firm is planning on adding at least 40 job opportunities to Wilmington. Our own broker John Hinnant represented Suzy in the transaction of the business location at 319 N. Third St!

    Click here to read more!

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    “National spotlight shines on Wilmington, its flourishing entrepreneurial community” – WRAL Tech Wire

    Category : Uncategorized

    Ranking to #81 in the world as best EMERGING startup ecosystem, Wilmington is seeing an increase in media notice and new businesses! Check out this awesome article by Jim Roberts featuring one of our brokers, John Hinnant!

    Click here to read more

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    “New Owner, Tenants For Carolina Beach Road Retail Center” – Wilmington Business Journal

    Growth and expansion at Summer Hill Square as two new tenants join the area! The ECCRE Team used its investment sale methodology know as REAA’s to securing two new leases – 3rd Street Brazilian Jiu Jitsu and Fitness and Dog Face Brands – and renewed another tenant. Learn more about the purchase of  1930 Carolina Beach Road by Natson Enterprises by SEEK Land Holdings.

    Click here to read more!

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    Client Feedback!

    We are always happy to hear feedback from previous or current clients!

    We want to give a special shout out and thanks to Steven Palmer for his awesome testimonial!

    “I have had several commercial units under management with ECCRE for a number of years. They have done an exceptional job for me. From keeping units occupied to handling the troublesome tenants when needed. I highly recommend their services to all commercial property owners.”

    For further comments or interest please follow us on our Facebook, Instagram, or LinkedIn!

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    Acquisition of 403 Melton Road

    Category : Property Closing

    “Real Estate Solutions delivered in Real Time”

    Aerial view of the 1.99 acre industrial land

    Eastern Carolinas Commercial Real Estate Inc is excited to announce the closing in June of 403 Melton Road, a 1.99 acre industrial property.  Garry Silivanch and Parker Pelham of ECCRE represented the purchaser, New Hanover Paving in its purchase of the property.  Creative Commercial Properties represented the sellers in the sale.

    New Hanover Paving is a local paving business in Wilmington, NC that is rapidly expanding and needed more land to store their growing amount of equipment.  Even with New Hanover County’s shortage of vacant land listed for sale, ECCRE was able to locate an industrial property New Hanover Paving that was not listed for sale to accommodate their flourishing business.

    For more information, please contact ECCRE and the acquisition team for the property, Garry Silivanch or Parker Pelham at (910) 399-4602.

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    Lease of 2010 N Kerr Avenue

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce a recent lease signed at 2010 N Kerr Avenue.  Garry Silivanch and Parker Pelham of ECCRE represented the landlord, Green Eagle Realty Co., LLC in the leasing of the property.  Slawyer Corp represented the tenant, RavensGuard Academy.

    The new tenant is RavensGuard Academy owned by Aaron Kahler.  RavensGuard Academy is a Brazilian Jiu Jitsu Academy that educates individuals in the art of Brazilian Jiu Jitsu.  RavensGuard Academy opened their first Brazilian Jiu Jitsu training facility in July 2021.

    For more information, please contact the ECCRE and the leasing team for the property, Garry Silivanch or Parker Pelham at (910) 399-4602.

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    Rezoning of the Budgetel and Motel 6

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce that the Property located at 4903 Market Street, where currently the Budgetel and Motel 6 are located was approved to transition from hospitality zoning to Multifamily High Density. This will turn the two flagged property into 234 efficiency unit rentals in the middle of market street. The developer also agreed to lock 10% or 23 rooms in as designated affordable housing.

    From John Hinnant, Vice President “On behalf of our clients, the Badhiwalas, we are very excited to cross this important threshold in the sale of their property. Conversions of hotels like this are very popular around the country and we believe this, along with other deals we have and are brokering will help to improve and beautify the Market Street corridor. Since the improvements to the intersection at Market and Kerr, the properGes along that corridor have become more appealing to investors and developers. With the amount of land available for development in New Hanover County dwindling, it is only reasonable to believe that repurposing existing properties will be a key part of the future of our community.”

    From Nicholas Silivanch, Partner “This rezoning and adaptive reuse of what the city deemed to be a blighted area in our community will help change the Market Street Corridor in the short term and in the long term. The property will bring new rental units for the students who are graduating, the single upwardly mobile young professionals, those who are relocating and the need for affordable rentals together. By adaptively revising the existing structures the project will actually add tress and not further complicate existing stormwater issues. The adaptive reuse of the facility, will allow the Vivo to bring a much needed product to our market. The success of the Vivo concept around the naGon and in other marketing in North Carolina, in providing affordable rental units with class A ameniGes has been tremendous. The only issue that we face now in the City is that they did away with the zoning classification we just received, of high density which allows for the property to be re-used as it sits today.

    With smaller parcels and pricing adaptive reuse of properGes like these will become more and more the norm, not the pariah in the the years to come.”

    For more information please contact the Hospitality team for the property, Nicholas Silivanch or John Hinnant at (910) 399 4602.

    Click here for more information!

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    “Taking a Look at Like-kind Exchanges”- Wilmington Business Journal

    Category : Market Knowledge

    Changes on the horizon for realtors, sellers, and investors 🌅 Check out “Taking a Look at Like-kind Exchanges” by Cece Nunn and featuring our own partner Nicholas Silivanch, for more on 1031 like-kind exchanges.