April 23, 2023 - Cotton Exchange
Around Our Town with Gene Merritt
News and Views from the Port City of Wilmington, NC
April 23, 2023
Welcome to Around Our Town with Gene Merritt. Today I want to talk about the Cotton Exchange in downtown Wilmington.
I was the co-founder and first Executive Director of DARE, Inc., now called Wilmington Downtown, Inc.
When I started work in 1978, things looked bleak for our historic business neighborhood on the river. Urban sprawl and suburbanization had sent Belk-Beery, Penny’s and Sears to Hanover Center and Independence Mall. Many other smaller retail businesses had followed them. The major retailing had left downtown.
But there was clearly a ray of home. Local Realtors and entrepreneurs Joe Reaves and Mal Murray purchased and renovated a group of buildings on North Front Street and adopted the name Cotton Exchange. The historic buildings were carefully adapted to honor their historic architecture. I helped Joe and Mal gain permanent financing for the facility in 1978.
The Cotton Exchange is a stunning example of preservation of the Cape Fear region’s deep-rooted history in trade. Visitors will find themselves on a historical adventure as they visit the various unique shops and restaurants houses within the eight-building complex. Joined by brick walkways and open-air courtyards, each building has been beautifully restored to reflect the charm and style of 19th Century Wilmington, when the port was a bustling center for trade around the world.
Constructed years before the Civil War, the Sprunt Building was home to the Cape Fear Flour and Pearl Hominy Mill in 1884. The mill was the largest in the South at the time. In 1919, the building would be repurposed to make room for another industry giant, Alexander Sprunt & Sons. Sprunt and Sons had massive success in the cotton export industry, becoming the biggest cotton company in the world. Delivering cotton to ports in Europe, England, and America, it’s Sprunt’s thriving shipping endeavors that earned “The Cotton Exchange” its name.
Enduring each era, the Cotton Exchange has a history of providing invaluable services to the residents of Southeastern North Carolina. The Wood Seed Building was a Chinese Laundry in 1917, then in the 1930’s it became E.C. Moore’s Wholesale Notion Company, which produced Sewing supplies. By 1938, there was an increasing demand in the farming industry and the building was sold to T.W. Wood and Son’s Seed Company. Wood and Son shared the space with Winslow Merrick, a local barber, who catered to the railroad commuters and businessmen in need of a haircut.
Various other businesses have occupied the eight buildings of the Cotton Exchange; The Bear Building was a wholesale grocer in 1913, while in the 1930’s The O’Brien building housed the popular Sears, Roebuck & Company. The Granary Building located on Nutt Street formerly housed the Boney and Harper Milling Company in 1912 could produce 4,000 bushels a day of pearl hominy, grits, and cornmeal. In 1884, the Dahnhardt Building was a three-story mariner’s saloon until after a fire destroyed much of the building. W.B. Cooper took over and opened his wholesale grocery and peanut cleaning operation in 1900.
By the 1950’s, the once bustling railroad hub and the beautiful buildings of our port city had greatly deteriorated. Many industries had left when in 1961, the Railroad moved its headquarters to Florida. As a result, the Wilmington Redevelopment Commission began demolishing buildings to revitalize the area. Fortunately for the Cotton Exchange, just as all eight buildings were scheduled for demolition, J.R. Reaves and M.T. Murray bought the property with a unique plan to preserve history, renovating the space and using it for retail shops and restaurants.
The Cotton Exchange opened in 1976 and has offered its visitors a unique and exciting shopping adventure ever since.
Most of this background information was taken from the Cotton Exchange web site: please visit at:
Joe Reaves and Mal Murray sold the Cotton Exchange in 1990 to the John Bullock family, including Jean Bullock and their daughters Nancy and Cheryl. Nancy retired as general manager in 2018. Cheryl has served as the manager since 2018.
Several shops in the Cotton Exchange are well-known in the Wilmington community. Some have been there for a good, long while.
For example:
Cotton Exchange 20+ years tenants
Fidler’s Gallery and Wriggley’s Clocks Owner Mike Hayward, son of Gary and Ellen
Earl and Nancy Fidler opened the shop in 1977. Gary and Ellen bought the shop in 1996.
German Café 1985 Owner Harvey Hudson
Harvey owned it with his sister, Caroland McFarland, until her passing in 2022.
Golden Gallery 1977 Owner Mary Ellen Golden
Mary Ellen’s son, John has managed the gallery for this mother for the past few years
Java Dog Coffee House 2002 Owner Paul Brown
Paddy’s Hollow 1985 Owner Steve Hagen
TS Brown 1983 Owners Tim and Sandy Brown
Top Toad 1994 Owner Diana Pellington
If you are like me, you have visited most if not all these businesses over the years.
The Cotton Exchange is a major contributor to the culture and economy of downtown Wilmington, providing jobs and taxes to support our City and County governments, providing a wide range of goods and services, and standing as a prime example of downtown revitalization with an historic preservation strategy.
Main entrance to the Cotton Exchange on South Front Street in downtown Wilmington, NC
Interior and exterior finishes alike honor the historic architecture of the buildings.
The Cotton Exchange features ample and attractive outdoor seating
The entrance to Paddy’s Hollow and other shops is picturesque
The main entrance off Front Street is very attractive and provides ample outdoor seating
Around Our Town with Gene Merritt
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