Long Creek Tract
The Long Creek Tract The Long Creek Tract is located at latitude N34°26’4.04 longitude W78°1’33.27 in Pender County NC. The tract consists of 270+/- acres located along NC Highway 210 just east of highway 421. The tract is approximately 15 miles north of Wilmington, NC and has over 2 miles of frontage on the Long Creek, a navigable, deep water creek which feeds into the Cape Fear River. The property has several deep water lakes, one of which is located in close enough proximity to Long Creek for future access. The Long Creek Tract is currently owned and operated by Long Creek Farms and Nursery, LLC, a wholesale grower and reseller of numerous shrub and tree species for both commercial and residential landscaping use. Presently, the nursery’s inventory (containerized and field grown) has a wholesale value of approximately $2,000,000. Fixed assets including cold frame buildings, pumps/irrigation equipment, tractors/implements, tools, etc. have an approximate value of $500,000. The property also has several improvements including an office (located at the entrance) and other outbuildings. The tract is located 15 minutes from downtown Wilmington and 10 minutes from the I-140 Wilmington beltway via US Hwy 421, an uncongested 4-lane highway. Because of the nature of the property’s frontage along NC Hwy 210 and the “wrap around” nature of the Long Creek frontage, the property is ideally suited for an exclusive, gated residential development with both large lake and creek front lots or townhomes. Pender County and the area surrounding The Wilmington NC area (Pender, New Hanover and Brunswick Counties) is currently one of the fastest developing areas in the US. The areas’ affordable market, pro-development regulatory environment, mild climate and proximity to the Atlantic Ocean continue to provide a very attractive destination for retiring baby boomers, as well as, the general US demographic movement to the southeastern coastal plain. The Wilmington NC area population continues to grow despite the current real estate turndown is expected to increase 37% by 2010. The Long Creek tract is reasonably priced at $6,500,000 inclusive of all existing plant inventory and fixed assets. Potential investors might consider liquidating the plant inventory and assets subsequent to purchase creating an income stream to be used for debt service and predevelopment expenses. For more information contact: Sean Couch AmericanTimberlands Company 1201 Main Street - Suite 1980 Columbia, SC 29201 336-918-3632 (cell) ssc@americantimberlands.com |
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