Wilmington Distribution Center Sells In Multi-million Dollar Deal
// 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.
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