Cape Fear Commercial

What Cape Fear Commercial does

Cape Fear Commercial is a privately held, vertically integrated commercial real estate firm headquartered in Wilmington, North Carolina. Founded in 2001 by childhood friends Brian Eckel and Vin Wells, the firm operates today as the brokerage division of Cape Fear Holdings, a parent structure that also encompasses Cape Fear Development and Cape Fear Construction Group (launched 2022). Across 25 years the firm has executed $4B+ in closed transactions, manages 4M+ square feet of commercial space, has developed over 181 multifamily units, and has constructed in excess of 1 million square feet and $1.2 billion in built value.

The firm serves commercial real estate owners, users, developers, and investors across southeastern North Carolina, with a brokerage practice spanning office, retail, industrial, medical office, land, investment sales, and build-to-suit transactions. Its product portfolio includes the Proximity multifamily brand family (with projects in Wilmington, Carolina Beach, New Bern, and Myrtle Beach), active-adult communities, master-planned mixed-use developments, medical and office build-to-suits, and public-private partnership (P3) civic projects such as the NHC Government Center and Project Grace library/museum. CoStar has named it the Top Leasing Firm in Wilmington for four consecutive years (2022-2025).

Revenue is generated through a mix of transactional brokerage commissions, recurring property management fees on managed portfolios, development fees and equity participation, construction management fees and general contracting through Cape Fear Construction Group, and structured P3 engagements. Customer logos span healthcare (NHRMC, Wilmington Health, Vidant Health), industrial (John Deere — 320,000 SF facility), banking (BB&T/Truist, Bank OZK, First National Bank), retail/grocery (Publix across multiple developments), government (New Hanover County), and hospitality. The firm operates exclusively through direct, relationship-based sales channels and has no disclosed external institutional investment or private equity backing.

Name

Cape Fear Commercial

Legal name

Cape Fear Commercial, LLC

Website

https://capefearcommercial.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Cape Fear Commercial is a privately held, vertically integrated commercial real estate firm in Wilmington, NC, operating as the brokerage arm of Cape Fear Holdings. It provides brokerage, property management, development, construction, and P3 services across the Carolinas, with $4B+ in closed transactions and 4M+ SF under management.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

akta.pro primary industry

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

akta.pro secondary industries

Commercial General Contracting (New Build) (IMAFAAAA), Retail & Mixed-Use Commercial Construction (IMAFACAB)

Keywords

• Commercial real estate brokerage
• Commercial property management
• Real estate development
• Construction services
• Public-private partnerships

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage Commissions: Transaction-based brokerage services including commercial leasing (office, retail, industrial), investment sales, land and subdivision sales. Commissions earned on closed transactions.
2. Property Management Fees: Professional property management services for office, medical office, retail and industrial properties. Ongoing management fees based on square footage managed.
3. Development Services: Real estate development services including feasibility studies, debt structuring, entitlement procurement, site design, construction management and asset disposition. Revenue from development fees and equity participation.
4. Construction Services: Construction management and general contracting services through Cape Fear Construction Group, launched in 2022. Revenue from construction management fees and general contracting.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Cape Fear Commercial is a vertically integrated commercial real estate firm providing brokerage, property management, development, and construction services across southeastern North Carolina. The firm handles all phases of commercial real estate transactions including office, retail, industrial, medical office, and investment property sales and leasing, manages over 4 million square feet of commercial space, and develops multifamily and mixed-use projects under the Proximity brand.

Product overview

Cape Fear Commercial is a boutique commercial real estate firm offering an integrated platform of services: Brokerage (commercial, investment sales, land/subdivisions, property search), Property Management (over 4 million SF managed), Development Services (feasibility through disposition, $100M+ developed), Construction Services (pre-construction through post-construction), and Public-Private Partnerships (P3). The company operates multiple branded product lines including the 'Proximity' apartment community series (Proximity Carolina Beach, Proximity Watermark, Proximity New Bern, Proximity Blue Clay, Proximity Government Center, Proximity Coastal Grand), mixed-use developments (Autumn Hall, Riverwood, RL Lofts), active adult communities (The Leo, Inspire at Coastal Grand), commercial properties (Publix-anchored shopping centers, medical facilities, office buildings, self-storage), and P3 civic projects (Project Grace, NHC Government Center). Over $4 billion in closed transactions and 4+ million SF under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Brokerage Full-service commercial real estate brokerage handling office, medical, retail, industrial property transactions, investment sales, land and subdivisions, and property search services for commercial real estate owners, users, developers, and investors across southeastern North Carolina.
• Property Management Services Professional property management services for office, medical office, retail, and industrial properties across the Cape Fear region, managing over 4 million square feet with recurring fees based on square footage.
• Real Estate Development Services Comprehensive real estate development services including feasibility studies, debt structuring, entitlement procurement, site design, construction management, and asset disposition for commercial, multifamily, mixed-use, and medical projects in southeastern North Carolina.
• Construction Services (Cape Fear Construction Group) General contracting and construction management services covering pre-construction, actual construction, and post-construction phases for multifamily and commercial projects, delivered through Cape Fear Construction Group.
• Public-Private Partnerships (P3) Strategic public-private partnership services connecting government and public sector clients with private sector expertise and capital for civic infrastructure, libraries, museums, government centers, and other community development projects.

Quantifiable outcome

• $4B+ in closed transactions over 25 years
• +3 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered key, joint venture and transaction.

• LS3PkeyStrategic or Co-development PartnerDesign partner for Proximity Watermark project. LS3P provided architectural design services for the luxury riverfront apartment community featuring 248 units along the Cape Fear River.
• Bell PartnerskeyStrategic or Co-development PartnerProperty manager for Proximity Watermark. Bell Partners provides property management services for the 248-unit luxury apartment community.
• Monteith ConstructionkeyStrategic or Co-development PartnerGeneral contractor for Proximity Carolina Beach project. Monteith Construction collaborated on delivery of the 250-unit mixed-use development with ground-level retail.
• WIMCO Corpjoint ventureStrategic or Co-development PartnerJoint venture partner with Cape Fear Development for Vidant Healthplex-Wilson project. WIMCO Corp collaborated on the 30,965 SF medical facility build-to-suit.
• Coldwell Banker Sea Coast AdvantagetransactionChannel Partner/ Reseller/ DistributorRepresented buyer in Seven Seas Inn transaction. Ajay Singh and Dana White represented the buyer while Jason McLeod and Patrick Riley of Cape Fear Commercial represented the seller.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Trinity Partners: Carolinas-focused commercial real estate firm offering brokerage, property management, development, and investment sales across NC and SC. Closest regional peer to Cape Fear given overlapping service lines, geographies, and ownership structure as a privately held integrated platform.
• Foundry Commercial: Mid-Atlantic and Southeast commercial real estate services firm with brokerage, property management, and investment sales across Carolinas and Florida. Comparable as a regional full-service CRE platform competing for similar tenant and investor clients.
• Lincoln Harris: Charlotte-based boutique commercial real estate firm providing brokerage, development, project management, and property services. Comparable in scale, regional focus, and integrated service model across the Carolinas.
• The Shopping Center Group: Retail-focused commercial real estate firm with strong Carolinas presence providing leasing, investment sales, and tenant representation. Comparable as a regional retail brokerage that Cape Fear competes with in the Publix-anchored and retail leasing segments.
• RangeWater Real Estate: Sun Belt-focused multifamily developer and operator with active projects across the Carolinas and Southeast. Comparable as a competing developer of garden-style and luxury multifamily product in overlapping submarkets like Wilmington, Myrtle Beach, and Carolina Forest.

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm offering brokerage, valuation, project management, and capital markets with offices across the Carolinas. Larger incumbent competing for institutional mandates and large tenant representations that Cape Fear also pursues.
• CBRE Group: World's largest commercial real estate services and investment firm with full Carolinas coverage. Competes with Cape Fear on capital markets, investment sales, and large tenant/agency leasing mandates across asset classes.
• JLL (Jones Lang LaSalle): Global real estate services and investment management firm with significant Carolinas operations. Competes on investment sales, capital markets, and large office/industrial leasing mandates that overlap with Cape Fear's enterprise field sales pursuits.
• Colliers International: Global commercial real estate services firm with strong Carolinas presence in brokerage, project management, and investment sales. Comparable as a broader incumbent competing for institutional capital deployment and large-scale agency leasing.
• Newmark Group: Global commercial real estate advisory firm expanding its capital markets and leasing platform in the Carolinas. Comparable as a broader incumbent competing for investment sales, debt placement, and large tenant representation mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cape Fear Commercial