MarketWatch
Developer to start shopping center project in Union Co., N.C.
Wesley Chapel center set to break ground for supermarketThe Latest from SIW
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May 13--Charlotte's JDH Capital LLC is the latest commercial developer to follow strong residential growth into Union County.
It plans to break ground within the next 30 days on The Shoppes at Wesley Chapel, a $23 million, 98,915-square-foot shopping center at N.C. 84 and Waxhaw-Indian Trail Road in Wesley Chapel.
Winston-Salem-based Lowes Foods will be the anchor with a 49,495-square-foot FreshSmart supermarket.
The grocery is expected open in spring 2009. JDH anticipates full occupancy of the center by the summer of 2009.
So far tenants have signed for about 80 percent of the space, said Alan Marshall, JDH's northern region vice president of leasing and sales.
Housing development, high per-capita income levels in the immediate area and the prime north-south/east-west intersection attracted JDH, said development vice president Mark Ball.
The project has been in the works since 2005 but the construction start was slowed by Union's sewer capacity issues.