Jan
08

Wilmington CRE Market Seeing Activity

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An increase in new commercial development and leasing activity throughout greater Wilmington could spell a more optimistic first quarter of 2012.

Port City Mattress is expanding into the University Centre Shopping Plaza on College Road. The firm — which sells American-manufactured mattresses — will ink a lease agreement Monday for 1,200-square feet of space at the shopping center. Nicholas Silivanch, director of retail leasing and acquisition for Coldwell Banker Commercial Sun Coast Partners, brokered the three-year lease agreement.

Adam Withey, managing partner of Port City Mattress, said his firm will close its current Carolina Beach Road location before opening its new store in University Centre. He said the new store is slated to open by February 1.

“The University Centre location is actually smaller than our location on Carolina Beach Road,” Withey said. “But the rental rates are good, and when you look at the traffic counts on College Road, and the fact that we are three spaces down from Sam’s Club, it was an offer we couldn’t refuse.”

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Categories : Wilmington

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