Improving Business in the Wilmington Region
AFTER LEASING INITIAL SPEC SPACE, RAMM CAPITAL BREAKS GROUND ON SECOND PROJECT AT PENDER COMMERCE PARK
June 28, 2022 (Wilmington, N.C.) – Winston-Salem based Ramm Capital Partners, along with its brokerage partners at Cape Fear Commercial, has filled its 127,356-square-foot spec facility at Lot 2 in Pender Commerce Park and is set to begin work on its second building there. The company has inked long-term leases with three companies for its multi-tenant distribution facility, which was completed last year.
“We are pleased to announce that 33 ACME Way is fully leased with a great tenant mix, collectively creating approximately 70 new jobs in the region,” said Chris Ramm, manager of Ramm Capital Partners. “We would like to thank Cape Fear Commercial, Landmark Builders, Thomson Corder and Wilmington Business Development for our great partnership developing and leasing the site in Pender Commerce Park.”
Atlantic Tire Distributors (ATD), a wholesaler of tires across Virginia and the Carolinas, became the building’s first tenant in August 2021. The company is leasing about 28,000 square-feet as it ramps up a 30-person workforce there. Raleigh-based Professional Builders Supply, which supplies homebuilders, and SCP Distributors LLC / Superior Pool Products LLC will lease the balance of the building, taking 43,000 square feet and 56,000 square feet, respectively.
“Professional Builders Supply is pleased to announce we are expanding into Pender County,” said Brian Pelkey, the company’s Wilmington Market President. “Our new Pender County facility will give us the additional tools we need for a growing, successful future. Since opening our doors in 2003, Professional Builders Supply has been recognized for our variety of services, workplace culture, our commitment to customer service, and our unwavering dedication to excellence. Our Pender County expansion will be another opportunity to continue growing our commitment to our goals, mission and morals,” Pelkey said. “We would like to say thank you to our customers, associates, and vender partners for their contributions.”
Ramm Capital Partners arrived in the Greater Wilmington market about five years ago with an eye toward Class A office space. The company soon spotted opportunities in industrial property development, finding ready partners and tenants as the COVID-19 pandemic prompted re-consideration of global supply chains, a trend working to Greater Wilmington’s benefit. With its existing building now fully leased, Ramm will now turn its focus to Lot 1 – a neighboring parcel at Pender Commerce Park – for development. The group closed on the property in February of this year and had fully cleared the lot by April. The company plans another 144,900-square-foot distribution space equipped with the modern amenities necessary to attracting additional employers to the region.
Ramm’s plans have fit neatly into a broader regional strategy for economic diversification advocated by Wilmington Business Development (WBD) and its Pender County partners, whose vision for Pender Commerce Park from the beginning was a location that could appeal to food processing, assembly, distribution, headquarters and other corporate operations. The two spec buildings balance tenants’ desire for customization with the prospect of launching new operations quickly.
“Pender Commerce Park is a regional asset for 21st century businesses looking for a competitive edge,” said David Piepmeyer, chairman of the Pender County Board of Commissioners. “We owe a lot to the vision of those leaders who saw the potential of this property 15 years ago and worked hard to make it a reality. We’ve also benefited from the guidance of partners like WBD, who have brought the technical expertise and contacts necessary to bring major investors like Ramm Capital to the table.”
Equipped with the latest infrastructure, Pender Commerce Park is located on U.S. Highway 421, just three miles from I-140 and 13 miles from the Port of Wilmington. Ramm’s latest speculative building, which is expected to be complete by early 2023, is the latest evidence of property’s appeal as an industrial destination. The 450+ acre park welcomed its first tenant in 2013 — Acme Smoked Fish of Long Island, N.Y. Since then, Empire Distributors, FedEx Freight, Coastal Beverage, Pender Commerce Partners 1 LLC and India’s Polyhose Inc. have also constructed facilities there. RL Cold, a division of Atlanta-based RealtyLink, is in the process of building nearly 300,000 square-feet of cold storage space there, and e-commerce giant Amazon unveiled plans earlier this year to build a 142,000-square-foot delivery station at the property.
“Ready-to-go Class-A industrial product of this scale is the currency of today’s economic development recruitment,” says Scott Satterfield, WBD’s chief executive officer. “Pender Commerce Park has succeeded beyond anyone’s expectations, and it’s been a game-changer for the entire region. WBD remains grateful to our partners in Pender County for their forward-thinking leadership and to the remarkable vision of Ramm Capital in helping us set the stage for future job growth.”
Founded in 1956, Wilmington Business Development oversees business recruitment and industrial retention for the City of Wilmington, New Hanover County and Pender County. A private, non-profit organization, WBD supports members, partners and allies through an array of technical expertise, leadership resources and value-added business services. For additional information, visit www.wilmingtonbusinessdevelopment.com
# # #