Companies are purchasing land in the county’s business park

Companies are purchasing land in the county’s business park

Coastal Millwork Supply Co. has completed And its sister company, Risley Padula Construction Inc., on Thursday purchased 5.5 acres at the Blue Clay Business Park in New Hanover County.

The companies supply and install interior doors, trim, stair parts and cabinetry to residential construction companies in the Wilmington area and other markets. According to a press release, this move will give companies additional capacity to meet increased demand.

“We have been part of the community since my brother Steve and partner Bob Padula founded the company 25 years ago and have outgrown our current space,” owner and founder Jim Risley said in a statement released by Wilmington Business Development.

Company officials plan to build 62,000 square feet of industrial and office space at the new location, which “has ample surrounding space to accommodate future growth,” the statement said.

County officials announced in April that the companies would pay $233,750 for the property with plans to invest $7.5 million in the new facility. Will Leonard of Cape Fear Commercial represented the buyers in the purchase.

Coastal and Risley Padula employ a workforce of about 50 people, and they intend to grow that number to as many as 75 once their new location is up and running, possibly at the end of 2024, according to the release.

The companies are expected to vacate their current location off South 13th Street near Lake Greenfield in Wilmington, according to the release.

While the companies supply builders as far away as the Triangle and Myrtle Beach, most of their work is done in Brunswick, New Hanover and Pender counties, the release said.

Thursday’s deal marks the second purchase this year at the 120-acre Blue Clay Business Park. In September, Francini Inc., an importer and distributor of natural and engineered stone products, closed on a 6-acre space that will house a $10 million customer warehouse and showroom.

County officials and WBD are working with McKim & Creed on plans to install utility infrastructure for the park.

“The key to growing and maintaining a top-tier business like this is having ready-to-use properties that can accommodate the next phase of its growth,” Scott Satterfield, CEO of Wilmington Business Development, said in the release.

According to the release, Coastal Millwork and Risley Padula are collaborating with Hipp Architecture, Paramounte Engineering and McKinley Building on their project.

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