Cape Fear Commercial

Cape Fear Construction Group — a full-service general contractor and affiliate of Cape Fear Commercial and Cape Fear Development — has been awarded its first Certificate of Occupancy, for a multifamily project in New Bern, N.C. The Proximity New Bern is a 252-unit apartment community, with nine 3-story apartment buildings and a modern club house equipped with a fitness center, yoga-training room, and co-working space. The project also includes a resort-style swimming pool, outdoor kitchen, outdoor fireplace, and parking garages. Residents began to move into the first completed building in December. Construction is being finalized on the additional eight buildings and the clubhouse, with leasing on all units now underway. “It’s incredible to see the high levels of synergy on this job across our field managers, trade partners, vendors, and the ownership team,” said Cape Fear Construction Group President David Novotny. “Our model allowed the team to realize many efficiencies in delivering this first project, and that’s thanks to the talented, motivated, hardworking people who believe in us and want to continue working with us.”

The iconic Chapel Hill sports restaurant Four Corners has selected a site in Wilmington to open its second ever location. Cape Fear Commercial Broker-in-Charge Paul Loukas represented Four Corners owner Kristian Bawcom’s FOCO Restaurant Group in the $2.46 million purchase of the restaurant building at 2025 Eastwood Road, a short walk from the Wrightsville Beach draw bridge. CFC Vice President Patrick Riley represented the seller, Urban Food Group of Raleigh, which previously purchased the site from local restaurateur Ash Aziz’s Circa Restaurant Group as part of a three-restaurant sale brokered by Cape Fear Commercial in 2019. “We’re thrilled to be able to find a home in Wilmington for Four Corners,” said Riley. “It has a special history and connection to college sports fans around the state, and we’re excited to help bring them into town.” The original Four Corners, located on Franklin Street across from UNC Chapel Hill’s campus, gets its name from the signature offensive play style popularized by the late Tar Heels basketball coach Dean Smith. Bawcom, who has owned the restaurant for 15 years, plans to open the Wilmington Four Corners around the end of March or early April, according to the Wilmington Business Journal. Read more from Cape Fear Commercial:

With the aftereffects of covid still impacting the office market nationwide, Lindsey Hess of Cape Fear Commercial recently showed how creative solutions can benefit businesses that are reevaluating their office needs in Wilmington. “The Wilmington office market has stayed strong even as some large companies have been rethinking their office needs after the pandemic,” Lindsey said. “Class-A office space in prime locations is leasing well in Wilmington, and there’s a high level of interest across diverse industries for these spaces that became vacant in 2020.” Lindsey brokered lease transactions at 301 Government Center Drive in Wilmington, where two large tenants had previously had their employees working remote during the pandemic. Both tenants decided not to return staff to the office this year. While the pandemic caused disruptions in the need for large spaces across the country, Lindsey worked to meet the needs of both existing tenants, while finding new, growing companies to fill the vacancies at 301 Government Center Drive. Read the full story from Cape Fear Commercial: