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    Category Archives: Closing – Investment Sale

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    Closed : 311 Railroad Street – Wallace, North Carolina.

     

    311 Raleigh Street – 63,000 sf Cold Storage Warehouse Sold

    Eastern Carolinas Commercial Real Estate is excited to announce the recent closing on 311 Railroad Street in Wallace NC. This 63,100 sf facility was leased by eGourmet who is now the owner. This is the third location this distribution company owns nationally.

    ECCRE Brokers, John Hinnant and Garry Silivanch were involved in the sale with John representing the Purchaser and Garry representing the seller. John had this to say about the transaction:

    “This property type is red hot in southeastern North Carolina with the state port’s cold storage facility reaching near capacity. We had a lot of interest from regional economic developers and end-users from around the country, especially because it is within 100 miles of the state port. During the global pandemic caused by Covid-19, eGourmet experienced tremendous growth in business and the available work-force in Duplin County made this an easy decision” – John Hinnant

    For the Press Release click the link below.

    Wallace – 311 Railraod Street – Press Release

     

    Eastern Carolinas Commercial Real Estate is always ready to help our clients and potential clients locate, invest or lease space throughout our region. If your looking to Commercial Real Estate advice or to hire a broker call us at (910) 399 4602 for a free consultation on your commercial real estate needs.

     

     


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    Hotel Closed – Redevelopment to Begin

     

    Closed – 2828 Market Street – Investment / Redevelopment Sale in Wilmington NC

    Eastern Carolinas Commercial Real Estate is excited to announce the recent closing of 2828 Market Street. The former Amerivu hotel sale closed in December. For more information please click the link to the attached Press Release.

    ECCRE Brokers John Hinnant and Nicholas Silivanch represented the Sellers in the multi-million dollar closing.

    The story was a feature article in the Wilmington Business Journal, click the link here to see the story.

    2828 Market Street – Press Release


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    3729 Carolina Beach – SOLD

    Carolina Beach Road Site overview

    Carolina Beach Road Site Over view Map.

    ECCRE is excited to announce the recent sale of 3729 Carolina Beach Road. The property located at the intersection of Carolina Beach Road and Independence Blvd closed at $800,000.00

    This 2 acre parcel comes with Stormwater Detention and all utilities in place making it a ready to go site.

    The new owners are based out of New York and ECCRE will continue to work with the owners to bring Build to Suite and or Ground Lease opportunities to the property.

    Brokers David Branton and Nicholas Silivanch represented the sellers int the transaction which closed on 7/18/2019

    Partner and Broker – Nicholas Silivanch

    Broker, David Branton


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    ECCRE – Sells Medical Office Building at 6.1 CAP

    1725 New Hanover Medical Center Drive

    Sold – $5,314,590.00

    Seller: WILCAR Properties 

    Purchaser: Confidential

    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

    Vice President/Broker, John Hinnant

    Partner and Broker – Nicholas Silivanch