Wilmington NC Real Estate News
Purchase of Industrial Building For FXP IncorporatedSeptember 8, 2016
Wilmington, NC – Sharon Cushing, an agent with Coldwell Banker Commercial SunCoast, recently represented FXP Incorporated in the purchase of a 14,000 square foot industrial building at 1934 Colwell Avenue in Wilmington, NC. The building will serve as the new, expanded location for Southeastern Heating & Air Conditioning, a full service HVAC company owned by FXP Inc. that has served New Hanover, Pender and Brunswick counties since 1974.
“Southeastern Heating & Air Conditioning has grown significantly and this purchase will allow us to almost triple our space from our current, 5,000 square foot location,” said Frank Patz, president of FXP, Inc. “We’ve been working with Sharon since August 2015 to find just the right industrial space and when she showed this to me, we signed a contract that same day. Thanks to Sharon, we were able to close in just 41 days, which will enable me to get my business relocated just after our peak summer rush. Her professionalism and persistence really paid off for us.”
1934 Colwell Avenue was built in 1969 for Bethae Realty, owners of a family-run medical distribution 1934 Colwell Avenue was built in 1969 for Bethae Realty, owners of a family-run medical distribution company. The property remained in the family for 47 years prior to its purchase by Patz. The building is located on 1.62 acres near the intersection of 17^th and Castle Streets and allows easy access to downtown Wilmington, Leland, the beaches and all major roadways. The building offers 2,000 square feet of office space and 12,000 square feet of heated and cooled warehouse space with 19’ ceilings. “Industrial space is hard to come by in Wilmington,” said Cushing. “So when this property became available, I immediately contacted Frank to schedule a showing and 41 days later, we closed. Closing in less than 60 days is almost unheard of, but I worked with the banker, lawyer, surveyor and appraiser to get everything scheduled and completed as quickly as possible. Summer is Frank’s peak time and he wanted to get this concluded quickly so it would not take time away from his business. He is doing some renovations to the property and plans to move in after the summer busy season.”
Cushing acted as the buyer’s agent in the transaction. The seller was represented by Keith Austin and Charlie Rivenbark of Maus Warwick Matthews.
Coldwell Banker Commercial SunCoast was founded in Wilmington, NC in 2005 to meet the commercial real estate needs of companies throughout southeastern North Carolina. The firm is comprised of 23 commercial agents and 9 staff members who specialize in real estate sales, leasing, investment and property management for retail and commercial property owners from Carteret County to the South Carolina border. Coldwell Banker Commercial Sun Coast was the number one office in North Carolina for Coldwell Banker Commercial in 2008 and 2012 and consistently ranks among the state’s top performers.