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Report: “An Investment of One’s Own”

Report: “An Investment of One’s Own”


(Photo credit: Ray Worrell; Obtained from: http://www.wilmingtonbiz.com/)

With the ongoing growth and development occurring in Wilmington and the surrounding areas, many business owners are deciding to invest in a commercial space of their own. Cece Nunn from the Greater Wilmington Business Journal reports:

“To Yu Hang Wang, developing his own commercial real estate accomplished several goals.

‘We were looking for a third location for our restaurant, and we thought it would be easier to actually buy a piece of property and put ourselves in it and be our own landlord,’ said Wang, who owns Hibachi Bistro restaurants in Wilmington, Kinston and Greenville.

Wang is developing Ocean Gate Plaza, an 11,163-square-foot building next to the Walmart shopping center on U.S. 17 in Leland, scheduled to be complete by late May or early June.”

In addition to this new development coming soon to the Leland area, growth is also occurring the in Porters Neck area. In her article, Nunn writes:

“For Janece Stone and her husband, Jim, developing a retail center where they could place both Janece Stone’s upscale furniture and accessories store, Sugarwood Interiors, and their older company, Stone Development & Restoration, seemed like an ideal situation.

Sugarwood Interiors serves as the anchor tenant for Sugarwood Center, 167 Porters Neck Road, and it opened its doors Jan. 2. The Stones had done commercial development before, including a 20-unit apartment complex and a Family Dollar in Raleigh.”

Cody Cress and Tyler Pegg of The CRESS Group of Coldwell Banker Commercial SunCoast are the listing agents for Sugarwood Center in Porters Neck. In addition to Sugarwood Center, another new development is projected to arrive in the Porters Neck area sometime this year. In her article, Nunn explains:

“Slice of Life owner Ray Worrell said he hopes to break ground on two buildings at 163 Porters Neck Road sometime this year. A nearly 4,500-square-foot building will house Worrell’s fourth Wilmington location of pizza restaurant Slice of Life. An outdoor gathering space will be placed between the Slice of Life building and another, multi-tenant structure with room for up to four tenants in about 6,400 square feet.”

There is a new location of Chick-fil-A expected to open this year in the Porters Neck area as well. The new location will be located in front of Lowe’s Home Improvement, next to the Porters Neck Center off of Market Street. For more details on this expected opening, click here.

The CRESS Group is excited to see the ongoing growth and development of the Wilmington area and help local businesses find the best fit for their real estate needs.

To read the full article on WilmingtonBiz.com, please click here.

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