Outer Banks Commercial Real Estate Newsletter: January 2021
by Larry Lombardi, on Jan 20, 2021 8:51:41 AM
OBX CRE Spotlight
Managing Broker, Rose & Womble Realty
- Born and raised in Northern Virginia
- Moved to Greensboro, NC to work as a pilot scheduler for Piedmont Airlines before being transferred to Norfolk, VA
- Raised son in Chesapeake, VA and moved back to North Carolina after he left for college
- Lived in Northeast North Carolina since 2005
- First grandson arrived December 16, 2020
How long have you been working in commercial real estate?
I've been in the real estate business since 2000.
How did you first get into real estate?
Since this is a rather expensive business to start up with no other income, I was blessed by my grandmother who left me money to keep me going while I broke into the real estate career.
What was your first CRE transaction?
What was your most memorable CRE transaction?
What's your favorite part of working in CRE?
What’s the biggest misconception about CRE?
How would you describe the commercial real estate market in northeastern NC and the Outer Banks?
The Northeast North Carolina corridor to the Outer Banks is an opportunity for smart growth. The historic growth of the area in residential development has opened the doors for more commercial development. Residents are asking for the services that they drive to Virginia to get, but they also want to keep the area's rural flavor. This is a two-sided coin, but with some creativity it will happen.
Can you share one great piece of advice for someone looking to buy/lease commercial property or land?
What is your favorite thing about the Outer Banks?
What's your favorite way to spend your free time?
458-Acre Tract in Harbinger
One of the last large development tracts left in Currituck County, and definitely the largest in lower Currituck, only minutes from the Outer Banks. Located on the sound front, behind the H20BX Waterpark. The owners of the tract, have an agreement with the water park to access the sewer treatment system, which should allow for maximum development of the site. With 2500 ft of shoreline on the Albemarle Sound, 184 acres of usable uplands and 16 acres of ponds, the site lends itself to very unique development, with lots of green open space.