WILMINGTON, NC (WWAY) — Could new development be coming on South College Road in Wilmington? The location of the former Stevenson Hendrick Honda dealership is now up for sale.
The site, located at 821 South College Road has been empty for the past two months.
It sits at the corner of Wilshire Boulevard and S. College Rd., one of the busier intersections in the city. It’s also right near the UNCW campus.
The Cress Group at Coldwell Banker Commercial Sun Coast Partners says the land is nearly 7 acres, with three buildings that total around 57,000 square feet. They say the site has the potential to be a legacy property.
The team says they want the land to be an asset to the city, and they’re exploring all options from residential projects, to bringing in major businesses from outside of Wilmington.
“It could be a retail opportunity,” Tyler Pegg, with the Cress Group, said. “It could be an office development opportunity. It could be a multi-family opportunity. Student housing is a very popular thing for the site, because of its close proximity to UNCW. It has walkability That’s one option that we’ve looked at.”
Pegg also says they’ve also talked to a number of local businesses. He says they’ve already had several offers from developers, but have not made any decisions yet.
The team says they still have a long process ahead, and will have to consult with the city throughout the process.
They’re hoping to find a developer as soon as possible, and say they hope to find someone who can use the land to benefit the whole city.
The land is adjacent to the property where K-Mart used to be.