Construction Begins On Second Wilmington Trade Center Building
July 22, 2022
// WILMINGTON BUSINESS JOURNAL
WILMINGTON – Crews have started building a second industrial facility at Wilmington Trade Center on U.S. 421 in New Hanover County, expecting to add supply to a busy real estate sector.
Edgewater Ventures, in partnership with Wilmington-based McKinley Building Corp., recently completed the first 157,610-square-foot building at the center and construction is underway on Building 2, a virtually identical structure, according to a news release Thursday.
Chris Norvell, of Edgewater Ventures, said the second building would help its developers "capitalize on the momentum in the park with our recent leases to PaperFoam and Coastal Carrier.”
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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.
