NEWS RELEASE: Cape Fear Commercial Leases Fifth Floor

Sep 28, 2004

Wilmington, N.C. – September 28, 2004 – Construction has commenced on the fifth floor of the Wachovia Building, located at 300 North Third Street in Historic Downtown Wilmington, NC. Clancy & Theys, the contractor hired to build out the 11,480 square feet leased by RSM McGladrey, Inc. and McGladrey & Pullen, LLP, has begun the twelve (12) week construction project.

Brian Eckel and Vin Wells, both partners at Cape Fear Commercial, represented the landlord, Third & Grace, LLC in the lease transaction. According to Brian Eckel, “We are working closely with Clancy & Theys to deliver the space ahead of schedule.”

Cape Fear Commercial continues to market the remaining third and fourth floors of the Wachovia Building. The fourth floor, totaling 11,330 square feet, is being marketed to single tenants. The third floor, however, has been subdivided and is suited for small users ranging from the 1,200 square-foot range and upwards. Brian Eckel commented on the ongoing marketing campaign, “We have been fortunate to experience increasing levels of activity on the remaining space and hope to make additional leasing announcements in the near future.”

About Cape Fear Commercial
Cape Fear Commercial is a full service commercial real estate advisory firm based in Wilmington, North Carolina. For more information on the Wachovia Building or Cape Fear Commercial, visit them online at www.capefearcommercial.com.