Forever Sharp Products Acquires Industrial Property In Wilmington For $2.7M

Located in the bustling market of Wilmington, the industrial property at 903 N. Flint Ave. & 912 N. Sanford Ave. has changed hands in a recent sale transaction. The property, spanning an area of 16,228 square feet, was sold for a total price of $2,656,428, resulting in a price per square foot of $164. The buyer, Forever Sharp Products, successfully negotiated a substantial discount off the original asking price with the assistance of their representative, Eon I. Lew from District Realty Group. Pacific Fibre & Rope served as the seller in this transaction.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $2,656,428
• Address: 903 N. Flint Ave. & 912 N. Sanford Ave.
• Market: Wilmington

Eon I. Lew's expertise enabled Forever Sharp Products to secure a favorable deal. The financing for the property was provided by BFC Funding and First Bank, with First Bank contributing 50% of the loan amount ($1,328,214), and an SBA Loan covering 40% ($1,062,571). The remaining 10% was paid as a down payment by the buyer, amounting to $265,643. Carly Whitney facilitated the financing process on behalf of BFC Funding and First Bank.

It is worth noting that the property is owner-occupied, adding further value to the deal. Building upon their strong negotiation skills, Eon I. Lew ensured the buyer received favorable pricing in the 3% range for the financing. This successful transaction stands as a testament to the expertise and professionalism of all parties involved.