A South Carolina-based development firm is working to attract national retailers to a 63-acre site on U.S. 17 in Leland for a major retail center.
The firm, Twin Rivers Capital of Charleston, now has the property under contract.
“We’ve had significant interest from national tenants, both restaurants and others, as well as professional office users,” said Doug Horack, development partner with Twin Rivers Capital, on Wednesday.
Horack said the company expects to make a significant investment in the project because of its size and location, on U.S. 17 between Ocean Gate Plaza Drive and Ploof Road in Leland.
“We feel like Leland is a growing area, as is Brunswick County, and it’s under-served for retail and other commercial uses. There’s really a big demand factor out there, and we look forward to the opportunity,” Horack said.
The completion of the Leland causeway improvement project, and other roadway construction such as the Interstate 140 bypass, have been factors in the decision to plan the center, said Andy Mitwol, another development partner in Twin Rivers Capital who is also a resident of Wilmington.
“All those infrastructure improvements along with the residential growth in northern Brunswick have contributed to now being the time to proceed on the project,” Mitwol said.
The project will not include a residential component. The developers said the master plan for the project is evolving, but they expect to have more details by this summer.
The 63-acre tract has been the subject of much discussion among Leland officials in recent years, with an update included in the town's most recent economic development report.
“Drawings for the road improvements that will be constructed during the 1st phase of the development have received preliminary approval from [the N.C. Department of Transportation] and the Town. Construction of these public improvements is expected to begin soon,” the April 13 economic development report stated.
A separate but adjacent development in Leland, an Aldi grocery store, is expected to proceed once those road improvements are underway, according to the report.
Referencing the 63-acre commercial project, the report also said, “Town staff has been meeting with Twin Rivers on a regular basis in support of their efforts to attract national and regional retailers and restaurants to this site.”
Additional retail, services and homes are on the way elsewhere in Leland, according to the report.