Wilmington Business Park Sees Proposed New Construction

0


A long-standing Wilmington business park is looking to add its latest building.

Burnt Mill Business Park, located in downtown Wilmington between Covil Avenue and Randall Parkway, is already home to the Brunches at Randall breakfast, a Crossfit gym, a local IRS office and a radio station, between other companies.

The proposed building is planned for the last plot of the park. At more than 15,000 square feet, the new building could accommodate up to five new businesses, according to Steve Hall, the rental agent for the business park.

Plans for the building are currently being considered by town planners for the city of Wilmington. Site plans show that the proposed one-story building sits on nearly 2.5 acres of land. The plans also provide for 96 parking spaces. The proposed building will be smaller than others in the park due to the setbacks and easements required, Hall said.

Construction:The proposed complex could bring more than 400 apartments near Market Street

Other development:Shopping center, housing proposed to develop part of New Hanover County

With the large parking lot and direct access to the park, Hall said he could see an engineering company, accounting firm, insurance agency or medical company moving into the new building.

The building is currently in the pre-rental process, according to Hall.

The most recent additions to the business park, which were built in 2018, were fully leased before construction was completed, said Norman Brailsford, vice president of Abinto Corporation, which developed and manages the business park. ‘activities.

The decision to build now, ultimately, was due to several factors, including 100% occupancy of the park, “lack of office supply in the downtown market” and low interest rates. current, according to Hall.

A developer has submitted plans for the construction of a new office building at 3360 Jaeckle Drive in the Wilmington Business Park. [KEN BLEVINS/STARNEWS]

Although the pandemic has made it possible for some to work from home, Hall predicts that demand for offices in Wilmington will continue to grow.

“Some companies have allowed their employees to work from home,” he said, “but I don’t think it will be long before they are back in the office.”

Brailsford said demand for office space, the cost of building materials and other market factors will play a big role.

“It’s something we just need to be aware of as we go along,” he said. “Unfortunately, you do the projections and until you get to the building design and everything, when the contractors can actually come up with a cost, you work on the projections.”

The business park was established in 1988 with the construction of its first two buildings, Brailsford said. Since then, several new buildings have been added. The latest proposed construction would be building number 18, Brailsford said.

If the site plans are approved by the City of Wilmington, work could begin this fall with vertical construction starting in January 2022. They aim to complete the building next summer, Hall said.

Journalist Emma Dill can be reached at 910-343-2096 or [email protected]


Share.

About Author

Leave A Reply