LMC Group and Affiliates purchases Ruffins River Landing in Brunswick County

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The LMC Group announced today the acquisition and purchase of a beautiful new community located in Brunswick County near Holden Beach.  The community was previously owned by High Point Bank after developers were foreclosed on.  LMC Group plans include a revitalization of the community and new residential construction. The LMC Group has been busy revitalizing stalled communities since the downturn of the real estate market.  Other communities reset have been Dogwood Lakes in Surf City, Pine Ridge Townes in Holly Ridge and Saltwater Landing in Surf City.    All three of these communities have seen an explosion of activity since LMC restored them to active status with most completely sold out with only a few sites left available.  LMC was also involved in the highly successful neighborhood known as Neighborhoods at Holly Ridge by creating new jobs and tax basis for the area with over 100 new construction homes built or in the process of being completed.

LMC Group also has 2 new communities in development and one completed new development,  Poplar Branch,  with homes almost completed and ready for occupancy.

 

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Surf City seeking Utility Bids for Water/Sewer lines servicing The LMC Group Development along Hwy 50

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ADVERTISEMENT FOR BIDS

TOWN OF SURF CITY, NORTH CAROLINA MILL CREEK ROAD UTILITY EXTENSIONS

Sealed bids will be received until 2:00 p.m. on Tuesday, July 23, 2013 at the Town of Surf City Town Hall for the construction and installation of the Mill Creek Road Utility Extensions, at which time and place bids will be publicly opened and read aloud.

The work involves the complete installation of the Mill Creek Road Utility Extensions consisting of approximately 1,875 LF of 4” sewer forcemain along Mill Creek Road to an existing 12” forcemain along Hwy 50 and approximately 1,845 LF of 8” waterline along Mill Creek Road and approximately 1,680 LF of 12” waterline along Hwy 50 connecting to an existing 12” waterline at the intersection of Juniper Lane and Hwy 50.

Complete plans, specifications, and contract documents may be examined during regular business hours in the office of the local Association of General Contractor’s (AGC) office, local Hispanic Contractors Association office, the Town of Surf City Town Hall, and the office of Cavanaugh & Associates, P.A., 1904 Eastwood Road, Suite 205, Wilmington, North Carolina 28403.

Copies of the plans, specifications and contract documents may be obtained from the Engineer, Cavanaugh & Associates, P.A., 1904 Eastwood Road, Suite 205, Wilmington, North Carolina 28403, upon payment of $200.00 for each set. There will be no refund to any party for these documents.

Bids will be received on a unit price basis. Each bid must be accompanied by a bid bond, cash, cashiers’ check or a certified check in the amount of not less than five percent (5%) of the amount of the bid in accordance with the contract documents.

Small, minority, women’s businesses, and labor surplus area firms are encouraged to submit bids.

Bidders must be licensed under Chapter 87 of the North Carolina General Statutes.

The County reserves the right to reject any and all bids.

Town of Surf City, North Carolina

Publication Date: June 20, 2013

Surf City Advertisement For Bids Mill Creek Road Utility Extensions

LMC Group Closes Deal for ABC Board – Relocates Distribution Center to Market

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The NHC ABC Board has been seeking to move its Wilmington North Carolina Distribution Center away from the 17th Street location in efforts to better serve its needs and customers.

The New Hanover County Alcohol Beverage Control Board had budgeted to spend more than $1 million to buy a piece of land for its new headquarters.  11786840_BG1[1]

The ABC Board approved the $1.2 million purchase of 12.63 acres near the intersection of Market Street and Judges Road in Wilmington, a property represented by The LMC Group out of Wilmington. The property is easily accessed by Market and Judges Road and was a sound fit for the local ABC distribution center.

The ABC Board plans to use the land for its main distribution center, a second major outlet for sales to mixed beverage permit holders and administrative offices.

Once the new facility is built, the ABC Board plans to renovate its current building at 523 S. 17th Street. That building will be an expanded retail store, along with an outlet for sales to mixed beverage permit holders and for storage.

The LMC Group is a marketing and development specialist real estate firm in Wilmington, and partnered with F. Spruill Thompson, a local broker to connect the buyer and the site together.

LMC Launches Updated Website

LMC GroupThe LMC Group launched an update to its website today for its real estate venues. The new website more accurately describes the business in today’s real estate environment. For the past 3 years, The LMC Group has been resetting the marketplace and unclogging the jam of failed developments in 5 counties in North Carolina. With the resurgence of the housing market, LMC has begun to deliver new products to the marketplace in the way of finished lot inventory for builders. In recent months, the supply of lots in the areas of Wilmington, Surf City, and Holly Ridge has almost dwindled to non-existent. With no lot inventory in the marketplace, builders are scrambling for available lots to cover the increased demand for new housing. LMC currently has on the books 3 new communities under way in the Northern areas of Wilmington, Hampstead, Surf City and Holly Ridge. A recent run on inventory in the Brunswick County corridor has also seen decreased inventory in the Leland areas as well as the Hwy 211 corridor. According to LMC, the company is making great strides in the Brunswick County market as housing demand increases and expects to deliver new inventory in the coming months. For more information, please check out the company’s updated website at www.LMCRealEstate.com

Neighborhoods at Holly Ridge Up and Running

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The Hamptons at Holly Ridge is up and running!

IN reference to one of our earlier posts, The LMC Group placed Robuck Homes into a deal back in 2011 which enabled Robuck Homes to enter the marketplace into the Holly Ridge subdivision with a committment to build quality homes at an affordable price.  Well, Robuck Homes sure has delivered!  WOW!  I was in there the other day and it is unreal how beautiful these new homes are.

Instead of me attempting to describe these homes, here….. take a look…………  Then do yourself a favor and go look for yourself………..

The Hamptons at Holly Ridge!

LMC Group Announces Deal with the City of Wilmington

IT’S OFFICIAL !

Contracts were inked today between Patrick “PJ” Doherty of The LMC Group and the City of Wilmington for brokerage services for the city’s endeavors and real estate holdings.  The agreement makes Mr. Doherty and The LMC Group one of two exclusive Brokers for city property and acquisitions.  Should any City of Wilmington real estate matters arise with regards to property or acquiring property, real estate inquiries and property evaluations, Mr. Doherty with The LMC Group will be your contact.

“The city had very strict requirements for potential brokers” stated Mr. Doherty.  “I am extremely pleased that the city recognized my credentials along with the passion and focus The LMC Group has in the area, and I look forward to working with the city to promote city business and harmony with its citizens.”

One of the city’s requirements was that the candidate selected for this position must contain exclusive knowledge and understanding of discounted cash flow models.  Additional requirements were specific to commercial brokers, and applied experience in the field of commercial real estate and finance.  Mr. Doherty began in the real estate business in 1997 from the banking side, then moved into multi-family development, land sales, and earned CCIM designation in 2010 with concentration on office and industrial leasing.  Mr. Doherty joined The LMC Group in January 2011 because of its deep roots in the area and its passion for creating new jobs in the construction industry, that has been hit so hard by the recession.

The LMC Group is an out of the box finance and real estate group dedicated to serving the area’s stalled construction, development industries as well as office, industrial and multifamily real estate sectors.  At last count, this group has put in place over 500 transactions involving bank asset sales, retail sales, note purchases, investment deals, tenant leases, special assets sales, leasing & management, along with consulting on loan modifications for the government’s Making Home Affordable Assistance Program.

Congratulations to “PJ” Doherty and The LMC Group for earning this trusted relationship.  If you desire to sell property to the city, or desire to buy property from the city, or simply have questions, Mr. Doherty’s direct line is 910-297-9572 and his email address is PJDoherty@TheLMC.com

The LMC Group aligns with Robuck Homes in a new real estate deal bringing more construction to the area

The LMC Group and Robuck Homes  The LMC Group announced today the completion of a deal with Robuck Homes Triangle for the construction of NINETY-NINE (99) new homes in Onslow County along the Onslow/Pender County line.  Robuck Homes will begin construction as soon as September 1, 2011.

Robuck Homes is based out of Raleigh, North Carolina and has been seeking a presence into the local market for quite some time.  Established in 1926, they are one of the premier home building companies in the Triangle and have an unparallel reputation for quality homes.  In seeking to expand their operations down into the Wilmington surrounding area, Robuck hired The LMC Group in June 2011 to bring them into the market.  After meeting with The  LMC Group and going over an extensive market profile look, LMC located a place for Robuck Homes to begin their entry into the marketplace.  With over 75 years experience in custom home building, Robuck Homes will be entering the market in the highly successful community Neighborhoods of Holly Ridge subdivision located just down from the Surf City bridge onto Topsail Island.  New homes will begin under $200,000.

This is yet another accolade in The LMC Group’s successes as they continue to bring jobs and activity to the local area.  New  construction for the area has been hit the hardest, and any and all new business is a welcomed site to our area.  The addition of Robuck Homes into our area is expected to create an economic impact of over $15 million.

For more on Robuck Homes, please go to their website at www.RobuckHomes.com

Loadmatch Logistics Utilizes The LMC Group for Relocation

Wilmington Commercial Real Estate News

The LMC Group announced today that Loadmatch Logstics, LLC  has signed a long term lease with Ashes Drive, LLC to occupy the building located across from Mayfaire Town Center off Sir Tyler Road and Military Cutoff, Wilmington, NC.

LoadMatch Logistics arranges the transportation of shipping containers from ocean ports in the Southeast for import clients and then utilizes those containers for export shipments when they are returned to the port instead of being returned empty. Without LoadMatch Logistics services, a truck driver would pick up a shipping container of imported freight at the Port of Wilmington and transport it to an N.C. distribution center. The truck would then return to the port with no container. The cost for the round trip transportation was paid for by the importer. With LoadMatch’s service, this empty truck would be matched with a container bound for the port. The service saves the importer money, increases revenue for truck drivers and reduces the number of empty trucks that are traveling on the state’s highways. LoadMatch Logistics has developed a proprietary web based system to match imported shipping containers with those bound for export. It automatically notifies clients of delivery and pickup appointments, pickup and delivery confirmations and generates paperless invoicing, all via email. “Many times per day there are empty containers passing each other on the highways and our goal is to eliminate that,” said Winstead. Fuel efficiency for the typical container tractor is about 5 miles per gallon. Every matched container results in one round trip eliminated, thus saving 80 gallons of diesel fuel and related emissions. LoadMatch Logistics does business with the largest exporters of containerized cargo out of the US as well as the largest shipper of forest products from the US, Winstead said. LoadMatch Logistics also manages containers in the Southeast for the largest global transportation company in the world, DHL Global Forwarding. “We have just begun to serve the Southeast. We think we can grow to 10,000 containers per month.”

The LMC Group completed it’s search for space for Loadmatch Logistics near the end of July with leases in place the first week of August.  ” We have great clients searching for good quality space, and we were pleased to be able to deliver the space needed by Loadmatch Logistics in a timely fashion” stated Roy Holdford, CEO of LMC.  “Our guys work really hard, and it is imperative that we pull out all the stops to satify the needs of the real estate client today.”

The LMC Group is growing rapidly on the scene in this up and down economy.  “We are determined to serve the needs of the community, and constantly remind ourselves that our focus is creating and keeping jobs by providing solutions to the challenges in today’s real estate market.  If we can facilitate or provide a solution for any problem or venture, you can count on The LMC Group getting the task at hand completed” stated Holdford.

The LMC Group is a Commercial Real Estate Firm with strong ties to Development, Commercial Investments, Resurgence and Recapitalization of Residential Communities, Funding and Special Asset Structuring.

Foreclosed Property Updates

 LMC Group Foreclosure Photo

As the federal government has doggedly worked through concerns about foreclosure documentation practices, federal financial agencies have aggressively resumed their sale of foreclosed properties.

Through the first half of the year, the FDIC has sold $1.073 billion in foreclosed properties. This compares to $974.7 million in the first half of last year and
$482.2 million in the first half of 2009. More importantly, the amount of commercial real estate being sold by the FDIC has jumped more than 12 times in that time frame. Just
$39.8 million of FDIC property sales in 2009 consisted of commercial and multifamily properties. This year, more than half of the sales ($540.3 million) have been commercial real estate. In addition, land sales have increased from $86.1 million in 2009 to $310.6 million this year. Also, as commercial sales have been increasing, the number of single-family residential sales being handled by the FDIC is falling from $307.7 million in 2009 to $219 million this year.

While there has been some anxiety in the marketplace over the potential impact that a surge of distressed CRE properties coming into the marketplace may do to sales values, CoStar Group senior real estate strategist Chris Macke says there is an upside to the trend.  “The increased disposition activity is good for the industry,” Macke said. “The sooner we clear troubled assets the sooner the market will return to normal.” However, Macke warned, “with funds available to deal with troubled assets depleted and no appetite from Congress to provide additional funds, regulatory agencies do have limits on how quickly they can clear out all the troubled transactions there are to deal with.”

The nation’s government-sponsored enterprises are also increasing their REO property sales. Through the first three months of the year, Fannie Mae sold 37 multifamily properties on which it had foreclosed compared to 13 in the same period last year. At the same time, the number of multifamily properties it has picked up has remained fairly consistent, 50 in the first quarter of this year and 47 a year ago.  Overall, Fannie Mae sold 62,814 properties in the first three months of this year vs. 38,095 in the same period a year earlier. Those sales have produced proceeds of $11 billion in the first quarter of this year compared to $7.7 billion the year-ago period.

Through the first three months of the year, Freddie Mac has sold 31,628 properties vs. 21,969 in the same period a year earlier. Freddie Mac did not break out its multifamily property dispositions separately but it was holding only 15 multifamily repossessed apartment properties on its books as of March 31.  According to the Dept. of Housing & Urban Development, the Federal Housing Administration (FHA) acquired 7,667 REO properties in June and sold a record 13,609 properties (breaking the record of 12,671 properties sold in May).

The FHA REO inventory has declined from 69,958 at the end of the first quarter to 54,645 at the end of June.

Bases Will Remain Constant for Our Area for Years to come – Great News!

Marine Corps general: Bases will remain economic rock on East Coast

via The Associated Press 

COLUMBIA — The Marine Corps may face tight budgets and manpower cuts, but its installations will continue to be centers of economic activity in surrounding communities, the outgoing commander of seven East Coast Marine Corps bases said Tuesday.

“We will continue to be an economic engine for this area, and the areas where we have a presence,” Maj. Gen. Carl Jensen said in a farewell interview Tuesday from his center of operations at Camp Lejeune, N.C.

Jensen, 57, is retiring as commander of Marine Corps Installations East after 35 years in uniform. He passes command of units in Virginia, North Carolina, South Carolina, Georgia and Florida to Col. Thomas Gorry on Friday.

 The Marine Corps may face tight budgets and manpower cuts, but its installations will continue to be centers of economic activity in surrounding communities, the outgoing commander of seven East Coast Marine Corps bases said Tuesday.

Asked about the potential for cuts to military budgets and personnel, Jensen said the Marine Corps has weathered economic stresses and military drawdowns in the past and will continue to do so in the future.

While the Marine Corps overall has grown by tens of thousands in recent years, the area around Camp Lejeune has also boomed with new military construction, Jensen said. He said his command in eastern North Carolina alone has been undergoing so much construction that expenditures have amounted to about $2 million daily.

However, the current fiscal year may well be the last such boom time for military construction budgets, the two-star general said.

Jensen said Marine Corps Commandant Gen. James Amos has said the Corps could cut its forces about 20,000 to about 186,000 men and women in uniform, depending upon conditions such as the conflict in Afghanistan, where a drawdown is set to begin.

“It’s not so dramatic that we would have to take extraordinary measures,” Jensen said, adding that cuts could be made through attrition and by bringing fewer recruits into the Corps.

Jensen said it is clear that in the nation’s current economic times, “we will have to find some innovative ways to keep the level of excellence we have here” as they manage budgets and personnel.

“We’ve been through this before,” he said of the economic expansion and contraction. “The Marine Corps will survive very well.”

Communities around military installations, he predicted, will be able to “count on that as a rock to lean upon.”

LMC Group Real Estate CommunityJensen, of Wilmette, Ill., has overseen Marine Corps installations in Quantico, Va., Camp Lejeune, Cherry Point, and New River, N.C., Beaufort, S.C, Albany, Ga., and Jacksonville, Fla., since July of 2008.

IN SUMMARY:  The military is driving economic boom surround its bases with house starts and business expansions.  While the new recruits may dwindle with the budget cuts, personnel and officers coming home will continue to drive the need for off-base housing.  The LMC Group has been fueling that economic stimulus since 2009 and refiring stalled subdivisions to be able to deliver affordable housing for our troops.  For more information, please contact us at www.lmcrealestate.com .