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Real Estate - Commercial

With First Building Fully Leased, Second Phase Of Industrial Project Commences

By Staff Reports, posted Jun 28, 2022
A rendering of Ramm Capital Partner's speculatively developed industrial warehouse shows the proposed 144,900-square-foot facility in the Pender Commerce Park. (Rendering courtesy of Wilmington Business Development)

Ramm Capital Partners has broken ground on its second phase of a speculatively built industrial project at the Pender Commerce Park. 

The Winston-Salem-based investment firm has fully leased its first $8 million spec building in the park, a roughly 127,360-square-foot facility. Collectively, the three new employers at 33 Acme Way are creating 70 new jobs. 

Atlantic Tire Distributors (ATD) was the first tenant to sign on in August 2021, leasing about 28,000 square feet of the facility, according to a Wilmington Business Development (WBD) press release. ATD is gearing up for a workforce of 30 to aid in its wholesale tire distribution throughout the Carolinas and Virginia. 

Professional Builders Supply, which supplies products to home builders in the region, will lease 43,000 square feet in the facility and Superior Pool Products LLC, a wholesale distributor of pool-related supplies, will lease 56,000 square feet. 

Brian Pelkey, the company’s Wilmington market president, said in the release, “Our new Pender County facility will give us the additional tools we need for a growing, successful future.”

Plans for a second phase of the industrial project has been in the works since 2020. Ramm Capital Partners closed on a 39.5-acre parcel, “Lot 1,” under the company Pender Commerce Partners 1 LLC in February, purchasing the property from Pender County. The property was cleared in April, according to WBD, and the company is planning another 144,900-square-foot building to attract more employers to the area. Construction is expected to wrap up by early 2023.

Another speculatively developed facility at the Pender Commerce Park (this one targeting cold storage) broke ground in April

“Ramm’s plans have fit neatly into a broader regional strategy for economic diversification,” WBD announced in its release. “The two spec buildings balance tenants’ desire for customization with the prospect of launching new operations quickly.”

Pender Commerce Park has grown since landing its first tenant, Acme Smoked Fish, in 2013. The Ramm projects and RL Cold venture are among the latest ventures at the park, which is also home to Empire Distributors, FedEx Freight, Coastal Beverage and Polyhose Inc.

“Ready-to-go Class-A industrial product of this scale is the currency of today’s economic development recruitment,” Scott Satterfield, WBD’s chief executive officer, said in the release. “Pender Commerce Park has succeeded beyond anyone’s expectations, and it’s been a game-changer for the entire region. WBD remains grateful to our partners in Pender County for their forward-thinking leadership and to the remarkable vision of Ramm Capital in helping us set the stage for future job growth.”

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