Industrial Developer Completes Wilmington Venture23 Warehouse Project

October 20, 2023

// WILMINGTON BUSINESS JOURNAL

On 23rd Street in Wilmington, a development firm's office-to-warehouse conversion project is now complete and filled with tentants.

Edgewater Ventures recently executed leases at 1519 N. 23rd Street totaling 57,940 square feet to bring the 110,134 square foot building to 100% occupancy, according to a news release.

Marmolite Marble & Granite leased 28,390 square feet and Alcami Corp., a Wilmington-based drug development and manufacturing company, expanded within the building by 29,550 square feet, the release stated.

Edgewater Ventures bought the property in May 2022 for $6 million. In addition to converting 57,940 square feet from office space to warehouse space, the company also painted the facility, made repairs to the parking areas and rebranded the property as Venture 23, according to the release.

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