WilmingtonBiz Magazine - 2020 Commercial Real Estate

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HOTEL DEVELOPERS CHECK PORT CITY FOR CHECKING IN Hotel plans continued in 2019 in hot spots around the Wilmington area, with plans and hopes for more to fill an increase in demand in recent years. One example is a Home2 Suites by Hilton underway in the 5500 block of Market Street. Developed by The Generation Companies based in Raleigh, the 125-room hotel is projected to open in the fourth quarter of this year, said Jeff Castleberry, the firm’s senior vice president of real estate. It’s the third Home2 Suites by Hilton, an extended stay hotel, for The Generation Companies. The firm opened one in North Charleston in 2012, selling that one to a large real estate investment trust (REIT) the day it opened. The Generation Companies was familiar with Wilmington because the firm had owned the Suburban Extended Stay Hotel on Eastwood Road and built the Homewood Suites

in 2010. The demand in the Wilmington area comes from several factors, Castleberry said. The area “continues to grow population-wise. You’ve got very great, diverse demand drivers down there: You’ve got business and corporate (travelers); you’ve got beach, vacation and destinations stuff; you’ve got the university and the airport,” Castleberry said. “All the surrounding communities are also continuing to grow.” Last year, a Georgia hospitality firm announced plans to build a Home2 Suites by Hilton at The Pointe at Barclay in midtown Wilmington. And the developers of the recently opened Holiday Inn Express & Suites Wilmington West-Medical Park (pictured above) at 839 Medical Center Drive are looking for more potential hotel sites.

– CECE NUNN

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The pet industry keeps growing its pawprint in Wilmington. A cage-free dog daycare and boarding franchise, Camp Run-A-Mutt, opened last year at 2541 Carolina Beach Road. Pawville, a Pender County-based business that offers pet boarding, grooming and other services, is building a 10,500-square-foot facility off Carolina Beach Road, marking its fifth location. The newest Pawville could be finished this year, and in addition to boarding, daycare, grooming and training, it will hold some new services. They include a boutique with pet items for sale that will be about 1,000 square feet, self-serve dog washing stations and a dog treat bakery.

$8.3 MILLION price paid for the CAPE FEAR INDUSTRIAL COMPLEX in Pender County

THE COMPLEX INCLUDES: -SQ.-FT. FACILITY

4 4 8 ,6 8 7 1 2 8 ,0 0 0 SQ. FT. of manufacturing space

ON A

3 8 -ACRE CAMPUS


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