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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
Category : Lease Announcement
ECCRE is excited to announce the successful leasing of 348 S College Road, Unit A. It was formerly Payless shoes. The New Tenant Goodnight Sleep Store is set to open in August / September.
With the tremendous traffic on S College Road, an estimated 75,124 Traffic Counts this 2530 sf unit is located with prime visibility on one of the areas most major roads. ECCRE represented the Landlord in the transaction and was able to secure one of the areas best base rental rates for the client. In exchange the tenant is able to secure one of the areas best and most visible units on S College Road.
As an out parcel to University Centre (Another ECCRE brokered property) The Hawk Center is situated in and amongst some of the most major retail chains. With Bed, Bath and Beyond, Old Navy, Ross, Lowes Home Improvement, Sams Club, Petco, Staples, etc this unit was in a prime place and commanded a prime rent.
Nicholas Silivanch with ECCRE represented the Landlord in the transaction and Baker Bell with Bell Commercial out of Raleigh Represented the Tenant.
1725 New Hanover Medical Center Drive
Sold – $5,314,590.00
Seller: WILCAR Properties
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
Eastern Carolinas Commercial Real Estate is excited to announce the leasing of 14-1 Doctors Circle at the Brunswick Medical Mile in Leland! This medical units was recently leased to a health care provider.
Brokers Garry Silivanch and Bernadette Silivanch represented the Landlord in the transaction.
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.