REAL ESTATE – COMMERCIAL
BY CECE NUNN, POSTED NOV 27, 2018
Nearly all of the six structures, mainly commercial, have come down to make way for Bradley Creek Station, a 76,000-square-foot office and retail complex for which construction is expected to start early next year.
About a third of the new complex’s space, mainly in the first-floor retail portion of the three-story structure, has been reserved by users whose names have not yet been announced, said developer Steve Anderson and Steve Hall, partner in Wilmington-based commercial real estate firm Maus, Warwick, Matthews & Co.
But Anderson and Hall did reveal the categories of some users that have already indicated they want Bradley Creek Station space: a bank, coffee shop, full-service spa, gift store, mortgage company and dental office.
“We’ve already got a tremendous amount of activity on it … We’ll start seeing people come out of the woodwork now with the demolition going on and seeing that site work happening,” Hall said Monday. “And that’s the exciting part because you don’t know exactly who’s looking or ready to make the transition.”
Crews subcontracted by McKinley Building Corp. have been working since last week on the demolition under a demolition permit, with full construction permitting expected by mid- to late-January, Anderson said. The building was designed by architect Mark Loudermilk of Becker Morgan Group.
“The entire first floor is class-A retail, and then the second and third floors are class-A office,” Anderson said, with the space up for sale or lease.
Filling three other new office buildings quickly in recent years — The Offices at Airlie and The Offices at Mayfaire V and VI — was an indicator of the demand in the area, Anderson said.
“We really felt like that was going to be two to three years worth of inventory that we would have had,” he said of The Offices at Mayfaire V and VI.
Typically, with a 30,000- to 40,000-square-foot office building like those in the Mayfaire office park, Anderson and his development company SAMM Properties Inc. would have filled them with four to eight users, Anderson said.
“For us to have two users [Wilmington Health and nCino] in the same month come and take our entire inventory — that’s what pushed Bradley Creek Station up to really happen, realizing we were out of inventory,” he said.
Next year, banking software firm nCino is expected to occupy the 40,000-square-foot The Offices at Mayfaire VI, and a Wilmington Health location is set for the 30,000-square-foot Mayfaire V office building.
Anderson said that once construction starts, it will take about a year for Bradley Creek Station to be complete.
“Working with SAMM Properties was so easy. They anticipated what I needed before I even thought of it. I never had to ask any questions about the process. Everything was explained in detail all along the way. I would recommend them to anyone looking to lease or purchase space for their business.”
“After renting my office space for 20 years we purchased our medical office space from SAMM Properties four years ago. Best business decision I've ever made! SAMM is easy to work with and they over deliver. I highly recommend them.”
“Steve Anderson is a quality person, who builds a quality product, and makes the entire process a quality experience. He knows what owners want and need in a commercial property. I have purchased two units in Howe Creek Landing and have been delighted.”
“We worked with Steve Anderson on the lease of our office space in Mayfaire. We were thrilled with the final outcome and look, all beyond our expectation. What we appreciate most was his communication, attention to detail, and delivery of expected results and then some within the expected time frame.”
“My wife and I were leasing space for our retail store here in Wilmington and Steve approached us about purchasing space in Phase II of Anderson Square. Since we had always wanted to own our store space, we actively pursued purchasing a location in Anderson Square. I had known Steve for a number of years but had never had a business relationship with him. I was not surprised at all to find that it was an absolute pleasure to deal with him as our new location was being built. He was always available to help in any way he could to be a problem solver during the construction. I had been expecting a lot of hassles during the build as the gremlins seem to thrive around construction sites, but my experience was the opposite. If I needed help or advice, Steve was right there smoothing the way.
We opened our new location in 2004 and I worked closely with Steve until he sold his interest in Anderson Square in 2016. During those years, I found him to be very concerned about the welfare of all the store owners in the center and was constantly picking up trash, hanging Christmas decorations or driving through to check on any parking problems. Steve is the type of developer that remains involved in his projects long after they are completed. I would highly recommend him to anyone looking to own or lease a portion of any project he is building.”