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Category Archives: Market Knowledge

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Budgetel and Motel 6 to be Reimagined – Addresses Workforce Housing Shortage in Wilmington NC.

4903 Market Street – Budgetel

 4903 Market Street, Wilmington, NC – Redevelopment of existing Hotels into Apartment Rentals to address Wilmingtons WorkForce Housing Need.

ECCRE’s Hospitality Team is excited to announce the recent contract exectuion and subsequent rezoning submittal for the Budgetel and Motel 6 in Wilmington NC.

The Purchaser is looking to convert the 7.8 acre site with 230 rooms spanning three buildings into workforce efficiency units. There will be minimal environmental impact as we they are not altering the impervious areas in any way or adding to them!

Overview of 4903 Market Street, Wilmington NC.

This rezoning will create efficiency apartments that are targeted to Wilmington’s workforce, and located in a part of Wilmington that is central to Downtown, Area beaches and employment nodes (The Hospital, Universities, Dutch Square Industrial Park, The Movie Studios, 23rd Streets Businesses, Downtown Restaurants and Offices, the Corning Plant and The Mayfaire area retail shops). The property’s rezoning would allow for a return to the original 230 configuration and for the existing structures to be converted into efficiency units. The locations convent access to city transportation, and access to major roads will offer additional options for Wilmington’s workforce, who are looking for an affordable option close to services.

 

Check out the story on the Wilmington Business Journal here.

ECCRE – Budgetel and Motel 6 Press Release


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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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Wilmington is hottest spot in nation for Relocations !!!!

Category : Market Knowledge

As any Wilmington Native can tell you, we have one of the best places to live in the county. Great year round climate, tons of activities and plenty of access to beaches, waterways and parks.

Now the nation appears to have figured that out.

This link will take you to a story on www.WECT.com which discusses the growth our region experienced in 2020.

Wilmington #1 for relocations

ECCRE is proud to represent residential acreage for new subdivisions, if you are looking to build a community give us a call.


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Multifamily Land Development Acquisition : 17 Social

Social 17 – New Multifamily project on S 17th Street in Wilmington NC.

Eastern Carolinas Commercial Real Estate is excited to announce that their client DPJ Residential has purchased 7.8 +/- acres on South 17th Street for a new multifamily development called Social 17. For more information and to view the site plan please click the links below.

Brokers represented DPJ Residential are Partner Nicholas Silivanch and Broker David Branton. If you have a tract of land you would like for our client to consider please reach out to us at (910) 399 4602.

Partner and Broker – Nicholas Silivanch

Broker, David Branton

 

 

 

 

 

 

Wilmington Business Journal Article is located here. 

17th Street Mixed-Use Rendered Site Plan_01.29.20

ECCRE – Press Release – 17 Social


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Kerr Avenue Retail-Commercial Space Leased!

ECCRE is excited to announce the recent lease closing at 251 S. Kerr Avenue Unit B. This unit is 887 SF and is located in front of the Landing at Oak Court Apartments.

The new tenant is a fruit juice and smoothie concept run by a local family. This center is the perfect place to start your new business up. Call ECCRE and ask for Kelly Silivanch for more details on the remaining unit there!

(910) 399 4602

Kelly Silivanch – Broker and Property Manager


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Wilmington Market Overview Report End of June

Category : Market Knowledge

Click here for the end of June Market report on the Wilmington MSA

Wilmington June Report MSA Summary


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Eastern Carolinas Commercial Real Estate In the News 2/23/2017

Category : Market Knowledge

Mall Main Entrance

Mall Main Entrance

 

Eastern Carolinas Commercial Real Estate is in the news for a new project in Kinston, North Carolina. The Vernon Park mall one of the newest marketing projects for the company was in the news with the announcement of its sale. ECCRE is has the property on the market for $9,500,000.00 and is has started the analysis phase of the companies marketing strategy.

Partners and Brokers in the Firm, Garry Silivanch and Nicholas Silivanch were on site today when the local news outlets surprised us by showing up after our meeting with the mall’s property manager.

For more information on this exciting project check out these announcements here.

WNCT News 

WITN News 

WCTI News

For a link to the listing on our website click here. 

For a link to the property marketing information. 


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Vernon Park Mall – Now Represented by Eastern Carolinas Commercial Real Estate

Category : Market Knowledge

Mall Main Entrance

Mall Main Entrance

Eastern Carolinas Commercial Real Estate has been hired to help Re-tenant and sell the 623,000 +/- sf Vernon Park Mall in Kinston North Carolina. This mall sits on a 34.23 acre campus at the corner of Hardee and Vernon Roads or Hwy 70 Business in Kinston.

The property has various unit sizes and presents as a excellent redevelopment opportunity for the right user.

Call ECCRE at (910) 399 4602