Edgewater Commerce Center — Sale in Leland, NC

  • Price: $120
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Leland, NC 28451
  • Year built: 1975

Photos

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Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales representative for Edgewater Commerce Center (“ECC”) (the “Property”) – a 505,818 square foot multi-tenant industrial facility located in the booming Wilmington, North Carolina MSA. Fully leased to four (4) tenants with 1.6 years of weighted average lease term, the asset presents investors the rare opportunity to acquire a highly functional asset at a 30%+ discount to replacement cost, with immediate accretive cash flow, and near-term mark-to-market opportunities up to 60% in some cases. Under existing ownership since 2019, ECC has undergone significant capital improvements including the incremental buildout of multi-tenant infrastructure, a brand new 60 mil TPO roof with a 20-year warranty, and a new fire pump project, which is sized to accommodate an ESFR sprinkler conversion in the future. Strategically located along the US-74 corridor, which connects Wilmington to Charlotte, ECC enjoys one-turn access to Interstate 140, the outer loop of Wilmington, and Interstate 40 – the cross-continental thoroughfare that connects North Carolina to Southern California. The Wilmington-Myrtle Beach industrial market, driven by a torrential pace of population growth, is among the premier high-growth markets in the country as demonstrated by its 68% rental rate growth and 95% occupancy since 2021. ECC offers investors the truly rare opportunity to enter the early innings of an emerging market’s steep growth curve at an irreplaceable basis.

Market Context

This industrial in Leland, NC is listed for sale at $120. The building dates to 1975. Compare it against other industrial listings for sale in Leland, NC — view the full market.

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