{"id":172,"date":"2013-07-23T13:03:37","date_gmt":"2013-07-23T17:03:37","guid":{"rendered":"http:\/\/www.dowellcommercial.com\/?page_id=172"},"modified":"2026-04-17T08:21:28","modified_gmt":"2026-04-17T12:21:28","slug":"historic","status":"publish","type":"page","link":"https:\/\/www.dowellcommercial.com\/?page_id=172","title":{"rendered":"Historic"},"content":{"rendered":"

Historic property development and sales are a niche specialty of Dowell Commercial Realty.\u00a0 Successful development of historic assets takes years.\u00a0 Most brokers and brokerage firms don’t have the heart or the time to commit to such an endeavor.\u00a0 Dowell Commercial is both 1) passionate about preservation of North Carolina’s history and 2) knowledgeable in the practical ways this can be achieved.\u00a0 If you have a historic asset and require brokerage assistance, Dowell Commercial is your best choice. \u00a0 Please contact us<\/a>, if you are interested in working with a successful brokerage team on 1) listing your property or 2) buyer \/ tenant representation.<\/p>\n

Outlined below are DCR historic real estate listings.\u00a0 For all of the below listings, Dowell Commercial is a seller or landlord agent.\u00a0 For questions about this agency role, please consult the Working With Real Estate Agents brochure (regarding a sale<\/a> or lease<\/a>). <\/em><\/p>\n

Gibsonville Square in Minneola Mill @ 108 East Railroad Avenue, Gibsonville (Guilford County)<\/strong><\/p>\n

Varied industrial \/ mixed use spaces available for lease or sale.\u00a0 This 131K SF asset is on the national register and can qualify for historic tax credits with additional entitlement work.\u00a0 Property received a new roof in 2024, which might qualify for QRE in a property sale.\u00a0 After review of the below flyers, contact listing broker for further details.\u00a0\u00a0<\/p>\n

Gibsonville Square Flyer Industrial \/ Mixed Use For Lease<\/a>
Gibsonville Square Flyer 131K Sale<\/a>
Gibsonville Square Adjacent Industrial For Lease<\/a><\/p>\n

Granite Mill Mixed Use Space For Sale or Lease @ 180 East Main Street, Haw River (Alamance County)\u00a0 <\/strong>Inquire After 2Q26<\/em><\/p>\n

Off of the high traffic I-40 \/ I-85 corridor, this 25\u2032 \u2013 33\u2032 industrial asset has great bones and is incentives driven.\u00a0 While built in 1968, this 61,516 SF property is a National Register asset (contributing structure).\u00a0\u00a0 This asset is also in a tier II county, an opportunity zone, and is new market tax credit qualified as well.\u00a0 Property has a mixed use zoning and could be an excellent self storage location, brewery, etc.\u00a0 In 2Q26, this asset is getting a new roof and other improvements.\u00a0 Property to be brought to market improved and ready for an occupant in 2Q-3Q26.\u00a0\u00a0<\/p>\n

SUCCESS(ES)<\/p>\n

PRESS 2Q26:<\/strong> In April 2026, Sean Dowell is interviewed by Fox 8 News<\/a> regarding Showplace West, a recent HPC landmark.<\/p>\n

CIVIC EFFORTS 4Q25:<\/strong> In December 2025, Sean Dowell was elected Chair of the Guilford County Historic Preservation Commission<\/a> for a third term.<\/p>\n

ENTITLEMENT & STABILIZATION:<\/strong> Minneola Mill, Gibsonville (Guilford County)<\/p>\n

In late 2024, historic Minneola Mill in Gibsonville was awarded national register status.\u00a0 \u00a0This is after civic aid on facade removal<\/a> to confirm historic integrity.\u00a0 \u00a0Through 2025 and into the new year, Dowell Commercial leases space in this asset while permitting work is underway for the assets conversion to apartments and mixed uses.\u00a0 Conversion will be a multi-year process.\u00a0 In early 2026, this property should obtain county landmark status.\u00a0<\/p>\n

SOLD 4Q24 (Buyer Representation): <\/strong>Historic \/ Industrial Sale of @ 138 Eugene Street, Gibsonville\u00a0 (Guilford County)<\/p>\n

Sean Dowell represented the town of Gibsonville in the purchase of Hiawatha Mill<\/a>, a deferred maintenance 78K historic asset.\u00a0 This is one of Gibsonville’s original late 1800’s mills (built by prior Mayor Berry Davidson), included a stand alone, leased 3K SF industrial property, and is on a 4.6 acre site adjacent downtown.\u00a0 Preliminary plans are for a future downtown public parking lot with building usage subject to future town goals and needs.\u00a0 Rick Gunn of KW Commercial represented the seller.\u00a0<\/p>\n

4Q24<\/strong>: Sean Dowell is re-appointed as Chair of the Guilford County Historic Preservation Commission for Jan – Dec 2025.<\/p>\n

SOLD 1Q23 (Seller Representation): <\/strong>Industrial (re)Development @ 200 North 13th Street, Erwin (Harnett County) \u00a0
<\/strong><\/p>\n

Turn of the century -1980\u2019s mixed use campus of approx. 1,075,000 SF on 56 acres.\u00a0 In 2016, DCR received this listing after the site sat on the market for numerous years under another professional CRE firm.\u00a0 In 2017, Sean Dowell did a call for offers which resulted in 5+ unacceptable offers. The Erwin mill property had a non-performing test well and generated only cash buyers.\u00a0 The market had spoken.\u00a0 To overcome this issue, ownership embarked on a five year effort for brownsfields with a cost of approx. $4 million dollar.\u00a0 In the meanwhile, the p<\/span>roperty carried itself with income <\/span>from 30+ tenants<\/span> in its leasable 468K SF. \u00a0 This is while 56% and <\/span>606K SF of this campus sat vacant due to mixed condition issues.\u00a0 Being proactive in aligning a future redevelopment, DCR both a) leased up this property to full capacity, improving tenant quality where possible, and b) entitled it with the State Historic Preservation Office by getting this property on the NC Study List.\u00a0 In 3Q22, DCR performed a second call for offers<\/a> highlight a pending 4Q22 brownsfield approval and an excessive amount of property details in an extensive due diligence package.\u00a0 With relevant question answered, this generated numerous acceptable buyer parties and offers.\u00a0 On February 1, 2023, this property sold for $9,500,000.\u00a0 <\/span><\/p>\n

SOLD 4Q21 (Buyer Representation)<\/strong>: Sale of Land and Historic Minneola Mill @ 106 Railroad Avenue, Gibsonville (Guilford County)<\/p>\n

Dowell Commercial Realty represented developers Third Wave Housing<\/a>, Core Properties<\/a>, and their partners on a 381K SF historic purchase.\u00a0 This multi-tenant, turn of the century mill composes 59% of downtown Gibsonville and has 20+ tenants.\u00a0 While it has primarily industrial uses at the time of sale, this value add redevelopment will be repositioned for best and highest uses over multiple years. This purchase also included 17 acres of vacant land adjacent to Gibsonville\u2019s downtown.\u00a0 All in all, this is a second and final purchase of Minneola Mill.\u00a0 In 2019, this group also purchased 58K SF of this mill through DCR.\u00a0 For details on this initial purchase, see its case study<\/a>.<\/p>\n

ENTITLEMENT 4Q21 (Seller Representation): <\/strong>State Grant for Minneola Mill @ 106 Railroad Avenue, Gibsonville (Guilford County)<\/p>\n

Working with a proactive, diligent developer, DCR was an active team member on a group whom aligned a $750,000 state grant.\u00a0 These NC budget funds will unlock historical rehabilitation of Minneola Mill in Gibsonville, NC and were announced in later 2021.\u00a0 The developer and DCR had been working since 2016 to align historic rehabilitation but an extensive facade wall literally blocked the ability to receive historic tax credits.\u00a0 This issue is able to be resolved via this generous state assistance.\u00a0<\/p>\n

SOLD 2Q21 (Seller Representation): <\/strong>Industrial \/ Historic Sale @ 423 Lakeside Avenue, Burlington (Alamance County)
<\/strong><\/p>\n

DCR sold a 28K SF national register mill for historic rehabilitation in June 2021.\u00a0 Property sold to an owner \/ user whom was unrepresented.\u00a0 For more on this asset see, Lakeside Mill, Burlington Flyer,<\/a> Lakeside History,<\/a> or this City of Burlington press release<\/a> on the transaction.\u00a0 For context and more details, see the case study<\/a> on this deal.<\/p>\n

2Q20 – 3Q20: <\/strong>Covid-19 worldwide shut downs.<\/p>\n

SOLD 3Q19 (Buyer Representation)<\/strong>: Industrial \/ Historic Sale @ 106 Railroad Avenue, Gibsonville (Alamance County).<\/p>\n

Three Floors of Vision LLC purchased the national register 58,770 SF Minneola Mill Cloth Warehouse in Sept 2019.\u00a0 Historic entitlement took three years of committed effort, proof this status is not given lightly. \u00a0 This industrial CBD asset will be a mixed use and\/or multi-family conversion.\u00a0 DCR continues to represent this buyer and has this property on the market for lease as of 4Q19.\u00a0 For full details, see the case study<\/a> on this deal.<\/p>\n

SOLD 2Q19 (Buyer Representation)<\/strong>: Land Sale @ 502 West Third Street, Siler City (Chatham County)<\/p>\n

In August 2018, the North Carolina Housing Finance Agency (NCHFA) awarded financing for a 44 unit adaptive reuse project at the prior Henry Siler School.\u00a0 This dense infill development of 2.36 acres is near Siler City\u2019s downtown and will include new construction around historic bones.\u00a0 Sean Dowell represented Third Wave Housing<\/a> as purchaser and actively assisted with the donation of this declining asset to TWH.\u00a0 This transaction closed in 2Q19.\u00a0 For context and full details, see the case study<\/a> on this deal.<\/p>\n

SOLD 1Q19 (Buyer Representation)<\/strong>: Historic Redevelopment of the Mountcastle Knitting Company \/ Dixie Furniture Company Showroom @ 313 South Railroad Street, Lexington (Davidson County).<\/p>\n

In 1Q19, Sean Dowell represented a private investment group in the purchase of this approx. 60,000 SF historic redevelopment property.\u00a0 Entitlement of this asset will occur in 2019 with actual site developing to occur in late 1019 \/ 2020.\u00a0 This was an off market transaction in which DCR and purchaser worked with municipal ownership for purchase of this property.\u00a0 Asset is part of an over one million square foot, mixed use redevelopment of Lexington’s CBD “uptown” district.\u00a0 For more information, see March 2019 press<\/a>.\u00a0 DCR continues its involvement with this asset into 2020 and is the listing agent for available space.\u00a0<\/p>\n

SOLD 4Q18 <\/strong>(Seller Representation)<\/strong>: Historic Redevelopment of Granite Mill @ Haw River (Alamance County)<\/p>\n

In December 2018, DCR sold this antebellum 260K+ SF historic mill for $1,200,000.\u00a0 This larger 500K SF project took eight years to subdivide, entitle, and reposition.\u00a0 These efforts resulted in ten+ commercial transactions.\u00a0 The loss of historic tax credits in NC delayed this related historic property sale by numerous years.\u00a0 For background information, see the initial Case Study<\/a> (2011 \u2013 2014),\u00a0 Triad Business Journal on Sept 12, 2017 press<\/a>, and a later project update<\/a> published July 10, 2018.\u00a0 Original flyer at Haw River Flyer (Historic)<\/a>.\u00a0 In this transaction DCR represented owners D.H. Griffin, Rosemarie Williams, and the Peeples family; the purchaser did not have brokerage representation.\u00a0 By 2021, this property is developed into the Lofts on the Haw River<\/a> mixed use project.<\/p>\n

4Q17:<\/strong> The Tax Cut & Jobs Act lowers the syndicated value of historic tax credits, making historic deals more difficult to complete.<\/p>\n

SOLD 4Q17 (Seller Representation)<\/strong>: Historic Redevelopment of the Gibsonville School @ 401 East Joyner Street, Gibsonville (Guilford County)
<\/strong><\/p>\n

After six years and through the combined efforts of the Gibsonville Museum & Historical Society Inc<\/a> and Preservation North Carolina<\/a>, this property was sold to a preservationist.\u00a0 This 48,804 SF building was built in 1923 and was on the national register at time of sale.\u00a0 This building sale was hampered by NC’s removal of historic tax credits, the later uncertain tax credit syndication market (due to federal tax reform), and also by increasing construction costs.\u00a0 All the while, the asset simultaneous declined in condition due to roof collapse and water penetration.\u00a0 In true historic development form, a team with exceptional commitment pushed this boulder uphill until a solution was found.<\/p>\n

SOLD 2Q17 (Seller Representation) <\/strong>Historic Redevelopment of Proximity Printworks Mill @ 1700 Fairview Street, Greensboro (Guilford County)
<\/strong><\/p>\n

Historic rehabilitation of a National Register 1912 building composed of 420,000 SF on 21.18 acres.\u00a0 This Triad metro infill project took two years to contract and entitle via multiple buyer parties.\u00a0 This residential mixed use project will be another quality addition to Greensboro’s Revolution Mills campus.\u00a0 Construction is anticipated in 2018.\u00a0 For more information on this asset, see Printworks Mill Flyer V4 (Feb 2015)<\/a> or the Printworks Mill website<\/a>.\u00a0 Please note this flyer shows a subdivision of the Printworks property, which was wholly purchased by one party.\u00a0 This property sale was done in partnership with Born Commercial.<\/p>\n

Press: Triad Business Journal Printworks Press (May 25, 2017)<\/a><\/p>\n

SOLD 4Q16 (Buyer Representation)<\/strong>: Historic Redevelopment of the Lambeth Furniture Mill @ 14 East Guilford Street, Thomasville (Davidson County)<\/p>\n

Represented by Dowell Commercial Realty, Third Wave Housing purchased an approx. 150,000 SF historic 1913 mill for a multi-family project. \u00a0 Construction for this property starts in 2017 and takes 12-16 months.\u00a0 Asset is developed in Big Chair Lofts<\/a>.\u00a0<\/p>\n

Press: The Dispatch of Davidson County Reporting (March 23, 2016)<\/a><\/p>\n

SOLD 3Q16 (Buyer Representation)<\/strong>: Historic Redevelopment of the Dr. Dick House @ 515 Church Street, Gibsonville (Guilford County)<\/p>\n

Represented by Dowell Commercial Realty, local historian Jerry Nix purchased a 1910 historic property for rehabilitation.\u00a0 The 3,704 SF Dr. Dick house has prior been used as Barlett’s Funeral Home (approx. 1960 – 2000s) and has been vacant for the last decade.\u00a0 It’s future use is yet to be determined and the asset may develop into further commercial uses and\/or back to a residential use as originally built for.\u00a0 In the past Mr. Nix has historically rehabilitated numerous area residences; his contributions to the salvation of local historic assets cannot be understated.<\/p>\n

Property History: Gibsonville Museum & Historic Society Inc Newsletter<\/a><\/p>\n

SOLD 1Q16 (Seller Representation)<\/strong>: Historic Redevelopment of Scott Mebane Mill @ 220 West Harden Street, Graham (Alamance County)<\/p>\n

In partnership with Born Commercial, Dowell Commercial participated in the sale of the 1898 National Register Scott Mebane Mill to its neighbor, a church user.\u00a0 Asset is to be developed into additional space for church uses.\u00a0 This 24K SF asset was sold with grandfathered, pre 2015 mill credits and most historic entitlements.\u00a0 For more information on this sold property, see the Born Commercial Flyer (May 2015)<\/a><\/p>\n

SOLD 4Q15 (Buyer Representation)<\/strong>: Historic Redevelopment of the Oneida Mill @ 219 West Harden Street, Graham (Alamance County)<\/p>\n

Historic conversion of an 128,000 SF dilapidated mill to a multi-family use.\u00a0 This location was the first-steam powered cotton mill in Alamance County (built 1881).\u00a0 Asset took two year to entitle and finance.\u00a0 Please note this property had no historic entitlement work at initial contracting.\u00a0 Historic entitlement work by itself takes approximately a year.\u00a0 Deal was ultimately purchased in October 2015.\u00a0 Delivery of completed product is expected in 12-16 months following this close.<\/p>\n

Press: Times News Development Article (Aug 9, 2015)<\/a><\/p>\n

SOLD 2Q15 (Seller Representation): <\/strong>Revolution Millhouse @ 2004 Yanceyville Street, Greensboro (Guilford County)<\/p>\n

Dowell Commercial Realty represented property ownership of this 180,000 SF national register mill in 2014.\u00a0 This asset was on the market as an investment sale of a 337 unit self storage complex for $1.8 million dollar (a sales price based on NOI from this business).\u00a0 DCR located a reputable, out of market self storage company who contracted this property for $1.6 million dollars in 2014.\u00a0 As this asset was impacted by a chapter 11 disposition case of ownership, this asset could convey to either 1) the note holder \/ lender (Self Help Credit Union) for satisfaction of debt or 2) be sold to the DCR located purchaser.\u00a0 Settlement of this case was concluded in 1Q\/2Q15 and this asset conveyed to the note holder \/ lender.<\/p>\n

Press: Triad Business Journal Article (April 8, 2015)<\/a><\/p>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Historic property development and sales are a niche specialty of Dowell Commercial Realty.\u00a0 Successful development of historic assets takes years.\u00a0 Most brokers and brokerage firms don’t have the heart or the time to commit to such an endeavor.\u00a0 Dowell Commercial …<\/p>\n

Historic<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"full-width-page.php","meta":{"footnotes":""},"class_list":["post-172","page","type-page","status-publish","hentry"],"yoast_head":"\nDCR has Specialists in Historic Real Estate in NC<\/title>\n<meta name=\"description\" content=\"DCR is actively involved in historic real estate in NC and can professionally represent developers, property owners, and tenant \/ users.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dowellcommercial.com\/?page_id=172\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DCR has Specialists in Historic Real Estate in NC\" \/>\n<meta property=\"og:description\" content=\"DCR 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