New Industrial Park Coming To U.S. 421
March 31, 2021
// Wilmington Biz
WILMINGTON – A new industrial park is under construction in New Hanover County.
Edgewater Ventures , in partnership with McKinley Building Corp., announced Tuesday the development of Wilmington Trade Center, a three-building Class A industrial project near the interchange of Interstate 140. Upon completion, the center will include 425,000 square feet.
Edgewater Ventures, which has offices in Wilmington and Raleigh, is a commercial real estate investment firm focused on buying and developing industrial, office, multifamily and mixed-use assets across the Carolinas.
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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.
