Wilmington Distribution Center Sells In Multi-million Dollar Deal

June 16, 2022

// WILMINGTON BUSINESS JOURNAL

WILMINGTON– Investors who have been buying and developing millions of square feet of industrial real estate in the Cape Fear region bought a distribution center Tuesday near Wilmington International Airport.

Edgewater Ventures purchased the 210,000-square-foot facility at 802 N. 23rd St. from Buena Vista Sun LLC for more than $9.4 million, according to the deed. The center is fully leased by existing tenants MCO Transport Inc. and Atlantic Packaging.

Buena Vista Sun LLC is managed by former state legislator Daniel “Danny” McComas of MCO Transport, according to state records.

Chris Norvell, lead industrial partner at Edgewater Ventures, said a big part of what attracted his firm to the purchase is its location – less than a mile from the entrance to Wilmington International Airport.

He said the property is suited for those who need access to the airport and meets infill, last-mile distribution needs throughout the market. Will Leonard of Wilmington-based commercial real estate firm Cape Fear Commercial represented Edgewater in the acquisition.

SPREAD THE NEWS

Aerial view of a white commercial building with blue accents, surrounded by parking and lush green trees under a bright blue sky.

Raleigh real estate firm buys $25M building at full occupancy

By Duda Widget • October 16, 2025
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.
A group of people are standing next to each other on a construction site holding shovels.

Wilmington Trade Center Breaks Ground On Next Phase

By Duda Widget • May 15, 2025
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 man in a suit is standing in front of an easel holding a map.

Longs industrial park plans to expand with $22M new building

By Duda Widget • May 7, 2025
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.
MORE NEWS