NEWS RELEASE: Cape Fear Commercial Completes Transactions For Two Neighboring And Long-Vacant Retail Properties On Wrightsville Avenue
Sep 20, 2021
Wilmington, N.C. – September 20, 2021 – Cape Fear Commercial (CFC), one of the area’s leading commercial real estate firms, is pleased to announce that it has completed transactions for two neighboring and long-vacant retail properties on Wrightsville Ave.
CFC Associate Broker Rob High represented Wilmington-based Aquatic Safaris SCUBA Center in the recent purchase of 7041 Wrightsville Ave. The SCUBA center acquired the 2,458-square-foot retail building for $857,500 and plans to relocate operations from its current location down the road.
Aquatic Safaris purchased the property from Martin and Silva Pica, who were represented by Century 21 Commercial’s Michael Otelsberg.
Wheelz Pizza has leased the neighboring 3,000-square-foot building at 7037 Wrightsville Ave. With an expected November 2021 opening, this second location for the pizza company will have a large kitchen to service the commissary needs of its food trucks and feature dine in and drive-thru options.
Vice President Patrick Riley of CFC negotiated the lease transaction on behalf of the tenant while Hank Miller, senior vice president of the firm, represented the landlord.
“It’s been great to partner with Patrick Riley and Cape Fear Commercial to help Wheelz expand,” said Paul Parker, owner of Wheelz Pizza. “At our new location, we should be able process upward to 2,000 pounds of fresh dough every day, which will accommodate eight trucks. We currently have three trucks in service and a fourth being upfitted.”
According to High, “We are pleased to have clients occupy these neighboring Wrightsville Ave. properties and believe these transactions help to revive an area that hasn’t seen much commercial activity in a while.”
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 consistently recognized as an industry leader for the unique perspective it brings to every project. For more information, visit www.capefearcommercial.com.