Driving through Wilmington and noting the increased density, along with the many other changes that have taken place over the years, I’m often struck by the quote from Mark Twain, advising to “buy land, they’re not making it anymore.”
The lack of space for new development and infill projects is certainly a problem that we are currently facing, and one that is (obviously) not going to go away. This is why adaptive reuse projects are so essential to the economic prosperity and viability of our region moving forward.
Taking the long history of Wilmington into account, it’s not all that unusual to see large commercial buildings go vacant and then remain available on the open market for months, sometimes years. Part of the explanation for this is that these properties were designed with a unique business in mind, that they would take extensive up-fitting to accommodate something new, and there is a relatively small pool of buyers searching for these types of properties.
This is where the expertise and creativity of our commercial REALTORS® really shines, because ‘the next big thing’ is only a step away from the current reality. All it takes is someone with the vision to dream big and see what’s possible, when others may only see dead ends. Just consider the following examples:
Winner Announced Of 2023 Coastal Entrepreneur Of The Year Award
Cece Nunn
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May 31, 2023
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New Brunswick Water Plant Starts Pumping
Jenny Callison
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May 31, 2023
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Dosher Hospital Foundation Announces Endowment
Jenny Callison
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May 30, 2023
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Revamped Menu Nudges True Blue Butcher And Barrel Toward Original Vision
Miriah Hamrick
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May 31, 2023
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Shell Reappointed, Sosne Sworn In To CFCC Board Of Trustees
Staff Reports
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May 29, 2023
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Under the project, customized training and education would be electronically sent to all of Dosher’s departments through a bundled system....
Zest AI will integrate its product into nCino’s Consumer Banking Solution, enabling lenders “to help make efficient, accurate decisions abou...
While new shopping centers are planned in areas outside the Port City, owners are adding to and revamping existing commercial complexes in W...
The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.