Novant Health New Hanover Regional Medical Center has purchased a 9,934 SF building at 1994 S. 17th St. in Wilmington for $3 million, adding to its holdings near the hospital campus along a corridor with strong medical office demand.
A Wilmington health care provider has widened its real estate position along one of the city’s busiest medical corridors. Novant Health New Hanover Regional Medical Center recently paid $3 million for a property at 1994 S. 17th St., placing the building within reach of its hospital campus.
Built in 2002, the structure spans 9,934 SF and rests on a 1.35-acre parcel. Until late September it operated as a local NCWorks Career Center, a workforce office that closed its 17th Street location on Sept. 26 before a planned move to a new space on Nov. 1.
A Novant spokesperson said the company routinely reviews property opportunities for long-term health care planning and has not finalized detailed plans for the site.
Records connected to the sale show that CAP Investment Properties LLC sold the building to Novant after buying it for $2 million in 2022, a $1 million difference over roughly three years. Novant already controls neighboring land that holds the New Hanover Regional Medical Center Business Annex, giving it a contiguous presence at the location.
Strong demand for medical office space helped draw interest in the listing. Keith Austin, a senior vice president at Cape Fear Commercial who represented the seller, said the property attracted multiple offers during a brief time on the market, with most arriving from medical users. He identified the 17th Street and Military Cutoff Road corridors as the areas where demand runs highest, driven partly by new practices and specialty groups entering Wilmington.
Coverage of the deal was reported by the Greater Wilmington Business Journal. Novant Health New Hanover Regional Medical Center bought the 9,934 SF building and its 1.35-acre lot at 1994 S. 17th St. from CAP Investment Properties LLC for $3 million.