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    ECCRE News

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    ReZoning of 50.79 acres at 94 Green Swamp Rd

    “Real Estate Solutions delivered in Real Time”

    Aerial view of the 50+ acres outlined

    Garry Silivanch and Parker Pelham of Eastern Carolinas Commercial Real Estate represent the Galloway Family and their three parcels of land consisting of 50.79 +/- acres.  The property is approximately 850 +/- ft from Hwy 211 and Hwy 17 intersection’s present location.  These parcels were rezoned to CLD- Commercial-Low Density to accommodate the DOT’s recent announcement on May 16th, 2019, of project U-5932; the roadway improvement plans for the intersection of US Hwy 17 and NC Hwy 211 (Green Swamp Road) in the year 2025.

    DOT Roadway Improvements & Current Business Locations

    The DOT plans to remove the grade level intersection and create a new intersection, removing the traffic light and adding an overpass so that Hwy 17 will now go over Hwy 211.  Once the DOT completes the interchange the Subject property will be approximately 300 +/- Ft from the on and off ramps.  The existing businesses located adjacent to the Subject property will be acquired through eminent domain.  Local, regional, and national businesses like Well Care health, Circle K, Bojangles, Hardees, and McDonalds will need to relocate.  The properties with the new zoning will now be able to relocate within proximity to their existing location.  The Subject property will have highway frontage after the completion of the DOT roadway improvements.  The parcels have access to water and sewer and now with CLD zoning these parcels will create a commercial hub for office, retail, hospitality uses, and potential multifamily residential/apartment complexes.

    For more information, please contact the Eastern Carolinas Commercial Real Estate, Garry Silivanch or Parker Pelham at (910) 399-4602.


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    Sale of 51.37 acres on Mount Misery Road

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce the sale of six parcels totaling just over 51.37 acres in Leland, North Carolina. Eastern Carolinas Commercial Real Estate represented the sellers, Pura Vida Partners LLC in the transaction. The sellers had recently acquired the final part of the assemblage along Valerian Drive, adjacent to the Food Lion Center known as Leland Plaza. The Property which contains a large man made lake that is situated adjacent to the Leland Industrial Park, Leland Plaza and is in between the I-140 and Highway 74/76 on and off ramps. This property is and will continue to be a strategic location for Residential and Multifamily development, in a region that is rapidly growing. The
    accessibility to major roadways means this property is minutes to anywhere in the Wilmington Metro Area.

    Peter Vinyl with Peter Vinyl and Associates represented the purchasers in the transaction.

    Learn more about this sale from WilmingtonBiz Journal with the link below.

    http://www.wilmingtonbiz.com/more_than_51_acres_sell_in_leland/2021/09/21/more_than_51_acres_sell_in_leland/22336

    For more information please contact the Land team for the property, Nicholas Silivanch or David Branton at (910) 399 4602.


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    Acquisition of 5214 Market St

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce the closing of 5214 Market Street, also known as Market Street Station, a 15,400 sf retail strip center. ECCRE represented the purchaser, Claude Smith Enterprises in its purchase of the property. Cape Fear Commercial Represented the Sellers, Spirikas Properties in the sale. With the purchase, Claude Smith Enterprises, also hired ECCRE to handle the leasing of Market Street Station. The property has several key vacancies we will look to address and fill in the coming weeks. For more information on leasing at Market Street Station please contact ECCRE and ask for either Parker Pelham or Kelly Silivanch the leasing Team assigned to this property.

    The property is situated in front of the Walmart Super Center on Sigmon Road, and is Shadow Anchored by the Retailer. Additional tenants at the center Include Fast Med, Hertz, Chopstix Chinese and Prosein Tile.

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

    To read more about this closing, visit WilmingtonBiz Journal with the link below.

    http://www.wilmingtonbiz.com/market_street_shopping_center_under_new_ownership/2021/09/17/market_street_shopping_center_under_new_ownership/22311


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    Full Occupancy Hit, Sigmon Commons 5225 Sigmon Rd

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce the final lease at Sigmon Commons, bringing this center to 100% occupancy. The ECCRE Leasing Team was hired in May to lease the center and was successful within three months of listing the property to lease the 4,000 sf space. A local entrepreneur leased the space to add another location for his Tobacco business. Bander Alzoqari the new tenant is excited about the opportunity to grow and expand his presence in the Wilmington Market.

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


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    Lease up of 1930 Carolina Beach Road

    Category : Lease Announcement

    “Real Estate Solutions delivered in Real Time”

    Eastern Carolinas Commercial Real Estate Inc is excited to announce two recent leases signed at 1930 Carolina Beach Road, also known as Summerhill Square.

    The two new Tenants are 3rd Street Brazilian Ju Jitsu owned by Tom Watkins, and Big Dawg Productions a screen business owned by Jermaine Morris

    The two recent leases also join Scotts Retail in their leasing renewal at the property earlier this year giving the center Long Term tenants in a growing part of town.

     

    For more information  visit the link below and please contact the leasing team for the property, Nicholas Silivanch or Kelly Silivanch at (910) 399 4602.

    https://www.nccommercialmls.com/listing/30649150


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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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    ECCRE adds Junior Broker to Brokerage Team – Welcome Parker Pelham

    ECCRE is excited to Welcome Parker Pelham to the Brokerage Team as a Junior Broker. Parker is working with Garry, David, John and Nick to learn the various Commercial Real Estate Vertical Markets and choose an area to work within.

    Parker is originally from Richmond, VA but spent his summers in Delaware where he was an EMT with South Bethany Beach Patrol.  Parker moved to the Wilmington area in 2016 to attend University of North Carolina, Wilmington.  He graduated from UNCW in May 2020 with a Bachelor’s Degree in Finance.  He decided to pursue a career in the Commercial Real Estate Industry as his family has moved to Wilmington, NC over the recent years.

    In his first several months with ECCRE Parker has closed several lease transactions.

     


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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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    Giggles Drop in Child Care Expands – New Franchisee Location – Huntersville

    Category : Lease Announcement

    ECCRE is excited to announce the recent lease transaction for a local concept growing regionally. Giggles Drop in Childcare’s franchisee Michael Vincent recently leased a space in Huntersville, NC at Torrence Village. The Space is a reduction in a Mattress Firm unit and with its prime location this childcare provider is primed to provide the top end of childcare possible.

    Giggles continues to expand its footprint growing from 1 store to now 7 locations in the Carolinas.

    For more information on this recent lease, please click the link for the press release.

    Press Release – Giggles Expansion Continues