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Real Estate - Commercial

Site Work Begins On Commercial Portion Of Southport Development

By Cece Nunn, posted Nov 22, 2017
Site work has begun on a new Lowes Foods-anchored shopping center in Southport. (Photo courtesy of Cape Fear Commercial)
Site work has begun on a new Lowes Foods-anchored shopping center in Southport at the intersection of N.C. 211 and Long Beach Road Extension, according to an announcement from commercial real estate firm Cape Fear Commercial.

Along with a 50,000-square-foot Lowes Foods grocery store, Southport Crossing will feature 40,000-square-feet of leasable, in-line retail space, the news release said. CVS Pharmacy will join the grocery store anchor in relocating from across the street and develop a nearly 13,000-square-foot, freestanding store on one of the retail project’s seven outparcels available for sale, ground lease or build-to-suit options, the release stated.

The relocation is necessary because of a road realignment that resulted in the Lowes Foods losing its high-traffic road frontage.

Raleigh-based Wakefield Associates is the developer of Southport Crossing, which will include a residential component and span 88 acres, according to the release.

The release said the commercial part of the project will be located on 33 acres while the remaining 55 acres of the project site have been dedicated to residential development.

Lowes Foods has hired Bryce Morrison Jr. of Cape Fear Commercial as the sales and leasing agent for the commercial project, the release said.

“Southport Crossing is a highly anticipated retail project in the Southport Market that will accommodate the relocation of the existing Lowes Foods and CVS Pharmacy as a result of the realignment of the Long Beach Road Extension,” said Morrison in the release.

He said interest in the project is expected to increase now that site work, beginning with clearing trees, has begun.

“We’ve had a tremendous response to plans for the shopping center from businesses in the area, as well as regional and national retailers,” Morrison said in the release. “Now that site work has begun and we are ramping up marketing efforts, we only expect interest in pre-leasing space and outparcel sales to increase.”

While Lowes Foods is scheduled to open its new store in spring 2019, the release stated, outparcel pads for the shopping center are slated for delivery during the summer next year.
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