Private Asset Manager Acquires Maritime North Business Park as Premier Industrial Flex Campus

Wilmington, NC — A newly completed small-bay flex industrial campus on Wilmington’s US‑421 corridor has changed hands, signaling growing investor interest in modern multi-tenant industrial assets. The eight-building Maritime North Business Park was purchased in mid-2025 by a private asset manager specializing in commercial real estate investments, marking a major institutional play for the region.

About the Campus & Transaction

• Scope and Location: Situated just off US Highway 421, within a half-mile of the I‑40 outer loop, Maritime North comprises eight freestanding warehouse and flex units designed for mixed-tenant needs.
• Construction Timeline: Developed between 2022 and 2025, the park features contemporary specifications: drive-in and dock-high doors, office buildouts, and flexible unit sizes ranging from roughly 3,000 to 19,000 square feet.
• Occupancy & Terms: The property is currently around 85 percent leased, with two newly completed buildings still available for occupancy. Tenants range from local government offices to small commercial operators that value drive-in doors and functional layouts.

What This Acquisition Reveals

• Institutional Confidence in Wilmington Logistics: The buyer expressed that Maritime North represents institutional-grade industrial real estate in a market where modern small-bay product is rare and highly prized.
• Market Gaps Meet Investor Demand: The park's flexibility, proximity to major transportation arteries, and modern build quality met a demand that local developer-owners struggled to supply.
• Rent and Vacancy Benchmarks Identified: Marketing materials positioned lease rates around $11–12 per square foot triple-net (NNN), a data point investors will note when underwriting similar assets in the region.

Why It Matters for Stakeholders

• For regional developers: The sale demonstrates that spec-built industrial product can attract institutional buyers quickly when modern and strategically located.
• For existing landlords: This marks a pricing benchmark in small-bay flex retail, reinforcing premium per-square-foot expectations.
• For capital allocators: The acquisition highlights Wilmington’s growing pull as a secondary industrial hub, driven by coastal logistic demand and limited supply.

What to Watch Next

• Redevelopment sites along US‑421 and near the port may become targets for infill industrial development as demand increases.
• Leasing momentum in the park could accelerate if remaining units are leased ahead of broader supply growth.
• Future asset collateralization strategies may rely on such institutional purchases as evidence of market liquidity and exit ability.

Bottom Line

The sale of Maritime North Business Park confirms what investors have long suspected: modern small-bay industrial assets in Wilmington are scarce, and demand for them is institutional-grade. As the port expands and the area’s logistics network matures, similar projects will likely attract competitive equity interest or asset redeployment strategies.