Power Breakfast Panelists Talk Real Estate Boom, Rising Construction Costs
June 16, 2021
// WILMINGTON business journal
Despite some of the construction material and labor shortages that those in the real estate industry have been experiencing, demand and investments in various real estate sectors remain high.
That is one takeaway discussed at Tuesday’s Power Breakfast hosted by the Greater Wilmington Business Journal.
The breakfast, “The Roaring 20s,” brought a panel of those in the regional residential, commercial and industrial real estate markets to catch up on projects and the booming market.
Among panelists included Chris Boney, architect and principal at LS3P; Anne Gardner, CEO of Cape Fear Realtors; Chris Norvell, principal at Edgewater Ventures and Adam Tucker, director of development at Zimmer Development Co.
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Edgewater Ventures paid $25 million for 601 Keystone Park Drive in Morrisville, according to Durham County deed records. The acquisition was a joint venture with Optimum Asset Management, which has offices in Boston and Europe.
The first phase of Wilmington Trade Center, a master planned industrial park on U.S. 421, recently wrapped up, while work on the next phase is now underway.
A Longs-area industrial park that currently serves Amazon and Pepsi distributors plans to expand with a 60-acre acquisition, offering more space for industries to step into Horry County.
