ABC Real Estate Co 05-01 2012 New Hanover County ABC Board
Real Estate Committee
Meeting Minutes
The Real Estate Committee met on-site at a candidate property near the Wrightsville Avenue
ABC Store at 9:30 AM on May 1, 2012.
Attendees:
Board Members: Robert Martenis and David Matthews
Board Employees: Dan Sykes, CEO (Gary was on vacation).
Commercial Realtor: F. Spruill Thompson, Senior VP for Cape Fear Commercial
The purpose of the meeting was to visit three office/distribution/LBD facilities which were being
considered.
All three properties were visited. Some drawbacks noted were as follows:
• First property — near Wrightsville Avenue ABC Store: The issues appeared to be the
lease terms, future disposition of the structure, and possibly of the sale of Board property.
• Second property — Off Market Street: 38,000 sq feet of office and warehouse space. One
issue was a current tenant. A copy of the lease was not readily available.
• Third property — near Market Street/Judges Road: This is raw land and is much bigger
than needed. Property was over-grown, very little visibility.
Mr. Thompson was asked to follow-up with County tax assessment figures for second property
(38,000 square feet and to obtain a copy of the lease). Dan to check on sale of real property and
owning property with lease to a third party
The date/time of a future meeting was not established.
The m-- g adjourned about 11:30 AM.
J
obert Martenis, oard Member Gat-
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