FACILITIESRECOMMENDED

Wilmington Recommends New Hanover Endowment Lease

Wilmington City Council is considering a new lease with New Hanover Community Endowment, Inc. for continued occupancy of the fourth floor at 115 N. Third Street. The five-year lease begins at $230,175 in annual rent, includes 2.5% annual escalations, and allows up to $500,000 in improvement-related rent abatements.

Document date · October 2, 2026

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Derivita logo
Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
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Scope & details

The full contract record, as filed.

Contract amount
Initial annual full-service rent of $230,175.00; rent abatement not to exceed $500,000
Contract type
FACILITIES
Contract term
Initial term of 5 years, with two 2-year renewal options; total duration not to exceed 10 years
Renewal date
2031-10-06
Renewal
Two options to renew for an additional two years each; the new lease supersedes the February 19, 2025 lease and may not exceed 10 years total.
Document type
Agenda
Source document
City of Wilmington Agenda 2026-10-06

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Wilmington?

New Hanover Community Endowment Inc was awarded this facilities contract by City of Wilmington, as recorded on October 2, 2026. The contract value is Initial annual full-service rent of $230,175.00; rent abatement not to exceed $500,000.

How much is the New Hanover Community Endowment Inc contract with City of Wilmington worth?

The New Hanover Community Endowment Inc contract with City of Wilmington is valued at Initial annual full-service rent of $230,175.00; rent abatement not to exceed $500,000, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Wilmington Agenda 2026-10-06 (Agenda), dated October 2, 2026 from City of Wilmington. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does New Hanover Community Endowment Inc hold?

New Hanover Community Endowment Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View New Hanover Community Endowment Inc's profile

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