By: Christina Haley O'Neal, WilmingtonBiz
In Pender Commerce Park, developers are planning a building designed to be the first modern Class A industrial space for lease in the Wilmington region in over 10 years.
Pender Commerce Park Partners 1 LLC, a new entity formed for the development, released plans this week for the construction. Closing on the property is slated for late January, said Chris Ramm, managing partner of the group, which includes Taylor Development Group.
Via the limited liability company Mobrix, Ramm aims to buy the property from the county.
Pender County Commissioners in August approved the $634,400 price for the 12 developable acres within the county-owned industrial park off U.S. 421. That was followed by a 120-day due diligence phase.
The new entity, Pender Commerce Park Partners, will develop and own the property, and lease the building. Pending closing and permit approvals, developers aim to break ground on the property in late February and be finished with construction late in the third quarter of 2020, Ramm said.