WILMINGTON, N.C. (WECT) – Two companies announced Wednesday that they have chosen ILM Business Park as the location for their development projects.
“Each of these projects has involved months of hard work from all parties involved, including the Airport Authority and staff, New Hanover County, Wilmington Business Development and representatives from each company, and I want to express my sincere appreciation for the steadfast dedication and cooperation that was employed to bring these projects to fruition. We are so proud CIL Capital and Edgewater Ventures have chosen to invest in the ILM Business Park,” said Donna Girardot, Chairman of the New Hanover County Airport Authority. “Our ILM Business Park, and the addition of CIL Capital and Edgewater Ventures, will bring significant investment, diverse and higher wage jobs, and further our airport as an economic engine in the region. We are committed to ongoing partnerships that support our community’s growth and prosperity, now and in the future.”
CIL Capital, LLC, has signed a long-term ground lease for the development of a 500,000-square foot storage and distribution facility for the Life Sciences Industry.
“Wilmington International Airport is a best-in-class operator who shares the same belief as CIL Capital, that Wilmington, NC is America’s best kept secret,” said Michael Hockett, founder and CEO of CIL Capital. “Phase I will be a $100 million investment to build a state-of-the-art facility delivering a much-needed supply chain gap for the life sciences industry. The large metro areas around the country have experienced significant supply chain constraints at their ports and airports.
“North Carolina has made tremendous investments here at the local Port and their International Airport which gives Wilmington a tremendous competitive advantage to the rest of the country struggling with capacity.”
Edgewater Ventures also signed a long-term ground lease for about 30 acres with plans to develop a three-building Class A speculative industrial development that will total over 540,000 square feet. A new release states that the current site layout will accommodate two rear-loaded, multi-tenant facilities totaling 213,000 square feet, and a 330,000 square foot crossdock facility that will feature 180′ deep truck courts with dedicated trailer storage.
“Given the high-profile location of the buildings at the Wilmington International Airport, our plan is to design the facilities to be state-of-the-art in both form and function,” said Chris Norvell, lead industrial development partner with Edgewater Ventures. “The location demands that these facilities be constructed to stand the test of time, and we want the buildings to be on par with the highest-end industrial facilities in the nation, such that the entire community can be proud of them.
“There’s not a better location in the market. Airport proximate industrial facilities are typically the best performing industrial assets in larger markets. What makes this opportunity unique is that its also the top infill location in the Wilmington region with incredible accessibility via Martin Luther King Parkway.”
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