Local businessman Rick Bostic acquires Kinston Enterprise Center
Rick Bostic and Leon Steele in front of the Kinston Enterprise Center. Photo: Kristy Kelly
A cornerstone of downtown Kinston’s small business community has entered a new chapter. Rick Bostic, owner of Bostic Construction and Demolition, Inc., has purchased the Kinston Enterprise Center with plans to not only move his company’s headquarters into the building, but also maintain its availability to local startups and small businesses looking for affordable office space.
The sale was finalized with approval from the Board of Directors for Downtown Kinston Revitalization (DKR), the nonprofit organization that had managed the building for decades. Executive Director Leon Steele said the sale represents both a symbolic and strategic milestone in DKR’s evolution.
“We are extremely pleased that this downtown anchor property will remain locally owned,” Steele said. “Rick grew up here, started his business here, and now he’s investing in a space that has helped launch so many others. It’s a full-circle moment.”
The Enterprise Center, located at 327 N. Queen Street, was originally a Sears Department Store before being transformed into a small business incubator around 2003. At the time federal and state funding allowed DKR to convert the building into a hub for startups and emerging businesses.
That incubator designation came with a 20-year lifespan, which expired in 2022. Until then, the property could only be used to house qualifying small businesses, limiting DKR’s ability to sell it on the open market.
“Once the incubator restrictions sunset, the building was simply an office building,” Steele explained. “We were finally in a position to sell, but we wanted a buyer who would continue our mission of supporting small business.”
Photo: Loop.net Kinston NC
Enter Rick Bostic.
Born and raised in Kinston, Bostic launched his company in 2004 and has steadily grown it to a team of 20 employees. Specializing in heavy highway contracting, site work, demolition, and subdivision development, Bostic Construction and Demolition, Inc. has outgrown its current office and had been eyeing downtown for expansion.
“I’ve been looking to move downtown for a while,” Bostic said. “This building just made sense. Not only is it a great fit for my company, but it’s also a place where other businesses can start, grow, and connect.”
Bostic said he intends to keep the building operating much like it has in the past, offering offices and shared spaces for small businesses, nonprofits, and independent professionals. His goal, he said, is to maintain the Enterprise Center’s identity as a business growth hub for Lenoir County.
“It’s hard to start a business, especially when you’re just trying to get your water turned on or find office space you can afford,” Bostic said. “I hope this can still be a place where new businesses feel like they have a shot.”
Current tenants will remain in the building, and Bostic will appoint a new building manager as part of the transition.
Steele said the sale underscores the organization's broader strategy: stepping back from property management to focus on other avenues for economic development and downtown revitalization.
“DKR turns 40 this month. We’re not dissolving—we’re evolving,” Steele said. “This sale frees us up to pursue new opportunities, and we’re confident Rick’s ownership will carry on the legacy of the Enterprise Center in a meaningful way.”
The 26,000-square-foot building includes 28 offices, a conference room, freight and passenger elevators, a loading dock, and ample storage.
For Bostic, the purchase is personal.
“I grew up here. I went to South Lenoir High School. This is home,” he said. “If I can help make it easier for others to start a business, meet new people, and grow their own opportunities, that’s good for me—and good for Kinston.”
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