News and Announcements
Edgewater Ventures Acquires 240,000-Sq. Ft. Distribution Facility
June 5, 2020
Edgewater Ventures, a commercial real estate investment firm, announced in April its acquisition of a 240,000-sq.-ft. distribution facility on Landmark Drive in Wilmington. It’s the Raleigh-based company fourth industrial real estate acquisition in the Wilmington region in three years.
“We’re pleased to add the 421 Landmark Drive building to our growing industrial portfolio in Wilmington,” says Chris Norvell, Partner at Edgewater Ventures. “We’re bullish about the long-term growth of the Wilmington market and view this facility ... Continue Reading
Region’s Businesses Rise to the Challenge of COVID-19
There’s no arguing about it: The COVID-19 pandemic is having an unprecedented impact internationally on people's lives and ability to work. We see it locally, too – from hard-hit restaurant and lodging businesses to service enterprises and even manufacturers. No one is immune to its effects. But well outside the headlines, there are also positive stories. Many companies in Greater Wilmington are not just surviving but thriving, and that can only mean good things for ... Continue Reading
New Hanover County Initiates a Small Business Economic Incentive Grant Program
NEW HANOVER COUNTY, NC – Small businesses in New Hanover County that have been impacted by COVID-19 can apply Monday, June 1 through Friday, June 5 for a $10,000 grant through the Small Business Grant Program the county created, utilizing federal funding from the Coronavirus Aid, Relief and Economic Security (CARES) Act.
Following a public hearing at its meeting Monday, the Board of Commissioners approved the $1.3 million program, which will provide grants of $10,000 each to ... Continue Reading
Winston-Salem Property Developer Unveils Plans for $8 Million Spec Building at Pender Commerce Park
February 10, 2020
Taylor Development Group Will Partner with Cape Fear Commercial in 126,360-sq.-ft. Industrial Space
February 10, 2020 (Wilmington, N.C.) - Pender Commerce Partners 1, LLC (Ramm Capital Partners, LLC and Taylor Development Group, LLC) will invest $8+ million in a 126,360-sq-ft. speculative building at the fast-growing Pender Commerce Park. The Winston-Salem-based developer closed on the 15-acre property today. The move comes around two months after Pender County joined officials from India’s Polyhose in announcing plans for ... Continue Reading
Longtime WBD Staffer Billy King Retires
January 29, 2020
As Director of Business Development at Wilmington Business Development since 2008, Billy King has been a familiar presence in Southeastern North Carolina business circles. But many recall Billy’s economic development leadership role much earlier, in a career that took him from BellSouth to UNC Wilmington. Billy’s retirement from WBD at the end of 2019 drew praise and reminiscences from all over.
“Billy brought maturity, seasoning and dedication to WBD, and we will miss him,” says CEO Scott Satterfield. “He ... Continue Reading
Coastal Beverage Finalizes New Home at Pender Commerce Park
Coastal Beverage Company has completed its move to Pender Commerce Park. The company, a leading distributor of wine, beer and other beverages, announced its selection of a 27.7 parcel there in February 2018. Its $10 million facility serves as its company headquarters and distribution center.
The building’s amenities include a hospitality suite and employee fitness center. Governor Roy Cooper and other dignitaries toured Coastal Beverage’s 162,000-sq.-ft. facility in November after announcing the arrival of Polyhose.
Founded in ... Continue Reading
US 421 Corridor Advances with Water and Sewer Infrastructure Completion
Greater Wilmington’s capacity to accommodate modern industry took a major step forward in December with the completion of $15.5 million in water and sewer infrastructure along US Highway 421. The US 421 Water and Wastewater Utilities Expansion Project extended water and wastewater services to nearly 1,000 developable acres from the Isabel Holmes Bridge to the Pender County line.
Construction began on the project in March 2018. Its benefits include water services for fire protection system and ... Continue Reading
Blue Clay Road Site Selected for Duke Energy Site Readiness Program
An undeveloped 120-acre property owned by New Hanover County is set to benefit from participation in Duke Energy’s Site Readiness Program. The Blue Clay Road site is about 4.5 miles from I-40, adjacent to a CSX rail line and within easy access to both Wilmington International Airport and the Port of Wilmington. The property is one of five in North Carolina selected for the program this year.
“Identifying and improving sites for future economic growth is ... Continue Reading
INDIA’S POLYHOSE WILL INVEST NEARLY $8 MILLION AT PENDER COMMERCE PARK, CREATE 51 JOBS
November 27, 2019
Global Provider of Industrial Hoses and Fittings Will Establish its First North American Logistics Outpost
November 26, 2019 (Elizabethtown, N.C. and Wilmington, N.C.) - Polyhose Inc., the U.S. unit of Polyhose India Private Limited, plans to establish its first North American industrial facility at Pender Commerce Park. Its initial Phase One plan is for a 40,000-sq.-ft. build-to-suit assembly and logistics space that will employ 51 workers. Officials of the company and its parent, which is based ... Continue Reading
SOUTH-TEK SYSTEMS SET TO TAKE ADDITIONAL SPACE AS PART OF MAJOR GLOBAL EXPANSION EFFORT
October 14, 2019
A Year After Acquisition by Private Equity Group, Company Operations Will Relocate to Vacant Property on US 421
October 14, 2019 (Wilmington, N.C.) South-Tek Systems LLC, a leading designer and manufacturer of nitrogen generators for a diversified worldwide marketplace, will move into an existing 66,000-sq.-ft. building on US Highway 421 in Wilmington as part of an enhanced growth strategy that includes additional hiring and new products. Established in Wilmington in 1997, the company was privately held ... Continue Reading
