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    Category Archives: Property Closing

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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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    Sale of 1930 Carolina Beach Road

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce the closing of 1930 Carolina Beach Road, also known as Summer Hill Square, a 3,800 sf retail strip center. ECCRE represented the Seller, Natson Enterprises in its disposition of the property. Carolina Commercial Investment Properties, represented the purchaser SEEK Land Holdings.

    The ECCRE Team used its investment sale methodology know as REAA’s to take the center which had month to month rentals at under market pricing to securing two new leases and renewed another tenant at market rate and then went under contract before leasing out the last unit, as the new owners plan to use that space for themselves.

    The Center is located near Downtown Wilmington, NC at the corner of Tennessee Ave and Carolina Beach Road, across from Greenfield Lake Amphitheater. This area of Wilmington has seen significant redevelopment, adaptive reuse and growth over the last several years and will continue to see growth and expansion in the future.

    For more information please contact ECCRE and the Sales team for the property, Kelly Silivanch or Nicholas Silivanch at (910) 399 4602.


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    Closed : Office Sale : Midtown Wilmington – 402 Carl Street

    402 Carl Street – Sold – Office Condos

    Eastern Carolinas Commercial Real Estate is excited to announce the closing of a office condo at 402 Carl Street. The three combined units were formally used by Tropical Tans. Purchased in 2019 by James Mastronardi owner of Ultra Tan, James wanted to rebrand the location and was in the process of doing so when COVID 19 hit and he instead shuttered the location and put it on the market with ECCRE.

    ECCRE brokers David Branton and Nicholas Silivanch represented the Seller in the transaction and the new buyers were represented by Coldwell Banker Commercial Sun Coast Partners.

    For the press release on the sale click the link below.

    Press Release Form – 402 Carl Street


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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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    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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    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

     

     

     


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    2,351 SF +/- Mixed Use Historic Office Building In Downtown SOLD

    Category : Property Closing

     

     

     

     

     

    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.

     

    Vice President/Broker, John Hinnant

     

     

     


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    1320 SF +/- Industrial Flex Space in Dutch Square Sold!

    Category : Property Closing

     

     

     

     

     

    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.

     

    Vice President/Broker, John Hinnant