Wilmington Biz

REAL ESTATE – COMMERCIAL
BY CECE NUNN, POSTED FEB 12, 2019

The Offices at Mayfaire VI building sold recently for $11.7 million to Raleigh investors.

An eight-year commercial real estate journey has come to a close in Mayfaire’s office park.

The Offices at Mayfaire VI sold recently to Raleigh investors, according to an announcement Tuesday. The deed shows the buyer, Ticon Properties, paid $11.7 million to previous owner The Offices at Mayfaire VI, an entity of Wilmington-based development firm SAMM Properties.

The 40,500-square-foot office building is leased in its entirety by banking software company nCino.

Offices at Mayfaire developer Steve Anderson of SAMM Properties led the creation of 222,500 square feet of office space within the Mayfaire office park from 2011 to 2019.

Anderson said his team included Steve Hall, partner with Wilmington-based commercial real estate firm Maus, Warwick & Matthews, Brandon Lisk with Mckinley Building Corp., David Martin with Murchison Taylor and Cothran Harris with Harris Architecture.

Office space is in high demand in various parts of Wilmington, but especially in the Mayfaire area.

“We constantly get calls for suites that range in size for Mayfaire and unfortunately we just don’t have the inventory to lease it or sell it,” Hall said Tuesday.

But more space is on the way to Military Cutoff Road, Eastwood Road and nearby.

Although the sale of The Offices at Mayfaire VI concludes the series of six office buildings within the Mayfaire office park, Steve Anderson and his son Parker Anderson of SAMM Properties “are excited to transition into their next development, Bradley Creek Station, an 80,112-square-foot building that will consist of class A retail space on the first floor and class A office space on the second and third floor with the option to lease or purchase,” the announcement stated.

Bradley Creek Station on Oleander Drive is set to begin construction in March with an anticipated completion date of first quarter of 2020.

“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.”

- Pam Thibault, Owner, Crabby Chic
Bradley Creek Station

“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.”

- Dr. Edward Paul, OD, PhD, Owner, Paul Vision Institute
The Offices At Airlie

“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.”

- Chuck Earney, CPA, Earney & Company, L.L.P.
Howe Creek Landing

“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.”

- Robert O’Bday, Vice President, Monarch Mortgage
The Offices at Mayfaire III

“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.”

- George Elem
Anderson Square

5815 Oleander Drive, Suite 330        Wilmington, NC 28403 (Directions)       Phone: 910-616-0483

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