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Real Estate - Commercial

Promenade At Surf City Seeing Increased Leasing Activity

By J. Elias O'Neal, posted Mar 14, 2014
One of Surf City’s largest retail developments is beginning to fill up with new tenants, according to a broker overseeing the development.

Bryce Morrison Jr., vice president and broker with Wilmington-based Cape Fear Commercial, said Thursday that he recently inked two leases totaling nearly 5,000 square feet in the Promenade of Surf City.

Morrison, who oversee leasing on behalf of the developer, added he’s also in talks with Murphy USA – a retail gas company that builds on outparcels mostly fronting Walmarts – to take over a 1-acre outparcel fronting N.C. Highway 210 in the development.

“We’re seeing a lot of momentum in the area,” Morrison said.

Since Walmart announced plans to construct a new 41,839-square-foot Walmart Neighborhood Market, the 22-acre commercial development has continued to see a wave of interest from regional and national retailers, Morrison said.

Port City Dental will soon occupy 3,200 square feet of retail space in the Shoppes at Promenade, a small retail strip center fronting N.C. 210 in the development, said Morrison, who completed the transaction for an undisclosed amount. Port City Dental will also be joined by Jacksonville-based Watkins Floor Coverings, which recently opened into 1,750 square feet at the center.

Bellavie Boutique, a clothing retail store, is also expanding in the development, adding 1,500 square feet to its exiting location to incorporate men’s clothing and shoes to its store, Morrison said.

Morrison said the addition of the Walmart Neighborhood Market continues to spur interest in the remaining 1-acre parcel at the site along N.C. 210.

Surf City continues to be a hotbed of new retail and residential development, and with the addition of a Cape Fear Community College campus and numerous new residential developments under construction and planned in and around the town, area brokers say the area is slated for more growth.

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