Building Success: News from Cape Fear’s Companies

Wilmington, N.C. – Cape Fear Commercial (“CFC”), one of the area’s leading commercial real estate firms, announces the $23.5 million sale of a nearly 145k square foot, multi-tenanted warehouse in Wilmington, NC.

Completed in 2023, the Class A facility is fully leased to nationally and internationally recognized tenants, including Home Depot, Lansing Building Products, and One Banana North America

The Seller was represented by CFC’s Paul S. Loukas and Will Leonard, while the buyer was represented by Hank Miller, also with CFC.
“This was a highly competitive sales process, with prospective buyers drawn to the asset’s attractive tenant mix and its prime location,” said Loukas who went on to say, “Highway 421 has become the region’s top logistics corridor, and Pender Commerce Park has proven to be very attractive for users.”

CFC’s Will Leonard stated, “The Highway 421 submarket has experienced explosive growth in recent years. With the completion of the I-140 bypass coupled with Wilmington Business Development’s efforts, we anticipate more exciting projects to be attracted to the corridor in the future.”

This sale comes on the heels of CFC selling a John Deere occupied 327k square foot investment sale for $28 million a few weeks earlier.
About Cape Fear Commercial

Based in Wilmington, North Carolina, Cape Fear Commercial, LLC, is a boutique commercial real estate firm that provides targeted brokerage, property management and development services. The firm helps owners, users, developers and investors to successfully navigate the real estate market and is recognized as an industry leader for the unique perspective it brings to every project. For more information, visit www.capefearcommercial.com.