Edgewater acquires distribution facility near ILM
June 16, 2022
// PORT CITY DAILY
WILMINGTON– Edgewater Ventures continues to invest in the Cape Fear region adding to its portfolio another industrial facility near the Wilmington International Airport. The space will be divided between two companies who already signed leases — MCO Transportation, Inc. and Atlantic Packaging.
“We view this facility as a strategic acquisition to serve tenants that require close proximity to the Wilmington International Airport as well as infill, last-mile distribution needs throughout the market,” Edgewater lead industrial partner Chris Norvell said in a press release.
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Cushman & Wakefield has brokered the $17.5 million sale of a two-property industrial portfolio in Laurel Hill. Situated at 18300 and 18400 Fieldcrest Road, the property is within 100 miles of the Port of Wilmington and is fully leased to High Life LLC, an apparel manufacturer based in New York City.
A regional law firm has signed a renewal for its longtime headquarters in Raleigh, North Carolina.
Tim Skender, principal at Edgewater, said the acquisition was a good opportunity in a submarket that is thriving. "We’re big believers in lifestyle office or neighborhood office," he said. "1800 Central is well-located, in a dynamic, growing (submarket) where the neighborhood is the amenity for the people who office there. There’s a lot of momentum in Plaza, broadly speaking."
