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Downtown Wilmington attempts to showcase vacancies

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There’s a lot of room for rent in downtown Wilmington, but in this economy it can be tough to find takers for all that’s available. An event of Tuesday connected the renters, to the sellers.

If you’re looking for office space in the Port City, there’s plenty available downtown.

”The challenge is, we’ve got to get this space filled before we can go build more space. It’s going to be tough to get financing to build new buildings until you get your existing inventory absorbed,” said John Hinnant, executive director of Downtown Wilmington, Inc.

More than 100,000 square feet of office space is currently available downtown. Wednesday afternoon more than ten properties were showcased to commercial real estate agents to let them know what’s available. Downtown officials becoming part of this business hub can be a smart move for companies.

“What we’re finding is that the next generation of work force and the new young professionals desire areas like downtown to work, live, and play in. So showcasing the available properties lets these companies know that if they’re looking for the talented work force then they need to be in a place like downtown,” Hinnant added.

Broker Charlie Riverbark left the meeting feeling informed, and optimistic. “I made quite a few contacts here today on just that one listing that I was able to bring to the table, so it was certainly worth my while to be here.”

Even with the uncertain economy, those working to fill their downtown space have a positive outlook for the future.

“We’ve been through downturns before and one thing’s for sure about a downturn is that there’s an upturn that follows it. And we’re optimistic that that’s getting ready to happen here,” Rivenbark said.

“I’m still optimistic, I have to remain optimistic. But doing events like this showcases what we have available,” Hinnant said.

Today’s event was originally scheduled as a walking tour of the available properties, but that was cancelled due to the heavy rain. Downtown Wilmington Inc. plans to hold more events like this in the near future.

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Story summary

There’s a lot of room for rent in downtown Wilmington, but in this economy it can be tough to find takers for all that’s available. An event of Tuesday connected the renters, to the sellers.

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