Food Lion-anchored Winecoff Commons in Kannapolis, N.C., is joined by Cost Cutters and China Garden.

Carolina Hot Spots Spread Outside Cities

CHARLOTTE, NORTH CAROLINA -- An interesting thing is happening in North and South Carolina.  Each states’ metropolitan statistical areas (MSAs) is continuing to trend positively in terms of development, but the newest “hot spots” are outside of the traditional downtowns.  At least, that’s what Diana Teitsma, director of leasing and broker in charge of the Charlotte Office of Divaris Real Estate, Inc.(DRE), is witnessing in her day-to-day operations.

            “Around the Carolinas we are seeing great growth in areas just outside of the major cities,” said Teitsma.  “In Raleigh we are seeing it in Apex and Wake Forest.  In Charlotte we are seeing the growth in Mint Hill and all areas that touch the Interstate 485 Outerbelt.”

            Projects such as the new Concord, N.C. development Shops at Speedway Boulevard and the finalization of a new Wal-Mart Supercenter in Elizabeth City, N.C., both brokered by DRE, are key examples of the outlying growth taking place in this region.  Shops at Speedway Boulevard is a new, 8,400-square-foot strip center that Divaris is leasing for Limon, Inc. The building is anchored on each end by Starbucks and Suncom.  Restaurants are targeted for the remaining space to take advantage of this high-traffic area, just north of Charlotte.

Twenty-six acres of the 34-acre Elizabeth City Wal-Mart Supercenter site will be used strictly to build the retailer’s newest 210,000-square-foot store.  The remaining eight acres were sold to WRS, Inc. of Aiken, S.C. for the construction of an adjacent retail shopping center.  DRE’s senior vice president, John Knibb, concluded the sale of the land, which is part of the Tanglewood Farms development located at Route 17 Bypass and Halstead Boulevard Extended.  Tanglewood was part of the 2005 annexation by Elizabeth City from Pasquotank County.  DRE has been hired by Tanglewood to develop the property adjacent to the Wal-Mart Supercenter.  Knibb is spearheading this program.

North Carolina and South Carolina’s cities aren’t completely without drawing power of their own, however.  DRE twice worked with Eligio Peña of Compare Foods, during the later part of 2005, to secure leases in Greenville, S.C. and Charlotte.  The Greenville location at Sulphur Springs Road, the first for the 15-year-old international grocery chain, will occupy 44,000 square feet and conduct business under the name Berea Foods.  Compare’s Charlotte store leased 60,793 square feet in the Independence Shopping Center at 5610 East Independence Boulevard.