City planners aren’t sure what’s causing it. Area brokers have an idea, but can’t really pinpoint the catalyst. But both agree, the resurgence of investment is a welcomed sight for the stretch of Oleander Drive between Independence Boulevard and South College Road.

“The area of Oleander by the mall is geographically the center of the county,” said Hansen Matthews, broker and principal partner of Wilmington-based Maus Warwick Matthews & Company. “It draws from a number of locations.”

Since April 2011, a number of national retailers have announced a total of more than $2 million in investments along the stretch of roadway.

Matthews said large-scale retail developments, such as Mayfaire Town Center, hindered demand for the stretch of Oleander Drive in years past. But as developable land becomes more difficult to find for new retail ventures and the cost of retail space remains low, the Oleander Drive corridor is picking up significant activity.

And more announcements could be on the horizon.

“The traffic counts are good, and the visibility for business is even better,” Matthews said. “You also have established neighborhoods like Forest Hills and lots of public transportation … it’s an area where you could make $12,000 a year or $12 million, and retailers like that diversity of spending.”

Broker rumor mills also indicate that another Panera Bread franchise is eyeing the corridor; however, no permits have been filed with the city.

More than 100,000 square feet of space has been leased to seven prominent retailers along Oleander Drive, starting with Whole Foods – which is now open in the former Lowe’s Food location at the intersection of Oleander Drive and Fordham Road by Independence Mall.

Harris Teeter, which occupies more than 45,000 square feet in Hanover Center, responded to Whole Foods with a remedy of its own – a major expansion and renovation, adding more than 5,300 square feet to its existing footprint at the established center.

Construction is slated for completion this summer.

Shortly after Harris Teeter broke ground on its expansion and renovation, Trader Joe’s – which is currently under construction near the intersection of Oleander Drive and South College Road – announced plans in the winter to bring a 13,000-square-foot store to the Port City.    

And as the major grocers began staking their claim along the corridor, others soon followed.

Chipotle recently filed permits to open next to Whole Foods. Hobby Lobby announced in April plans to occupy 46,000 square feet in the Hanover Center – snatching up, at the time, some of the last prime junior box retail space in the region.

The Salvation Army also announced plans to close its Carolina Beach Road location and expand into more than 9,200 square feet of space formerly occupied by Space Savers on Floral Parkway. Mattress Firm is planning to retrofit the former El Agave restaurant across from Whole Foods, and demolition work continues on the former gas station
at the intersection of Independence and Oleander to make way for a new 2,000-square-foot Starbucks equipped with a drive thru. 

Wilmington Salvation Army Major Richard Watts said he’s hoping to capitalize on the store’s newest location.

“Wilmington is a very generous community and has been good to the Salvation Army for 125 years,” Watts said. “We’re looking forward to doing a better job because we now have a better facility and location.”