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Real Estate - Commercial

Mayfaire Town Center Files Plans For Next Retail Phase

By Cece Nunn, posted Dec 14, 2015
New buildings labeled with the names of additional stores at Mayfaire Town Center are shown on site plans that were uploaded Monday to the city of Wilmington’s project tracking website.

The third phase of the shopping center, according to the plans submitted by LandDesign Inc., includes several new structures on either side of Main Street near the center’s Regal Mayfaire Stadium 16 movie theater.

A two-story, 24,000-square-foot building is labeled for clothing retailer H&M, while a 10,500-square-foot structure is labeled West Marine on the submitted documents. Other spaces within the new structures that are labeled include a 9,100-square-foot West Elm, a national furniture and decor retailer; a 6,195-square-foot Lane Bryant, which sells women's clothing; 2,500-square-foot Hot Topic; and 2,500-square-foot Torrid, the plans show. Some of the space in the potential buildings are not labeled.

Mayfaire Town Center officials did not immediately return a request for comment Monday afternoon.

Three years ago, center officials announced their plans to launch a third phase of the lifestyle center development and to start preleasing activity. At the time, they described it as a $21 million expansion, but plans then showed slightly different building proposals than the ones now filed with the city.

One option included in a list on the newly submitted plans for Phase III shows the potential addition of 145,110 square feet of leasable space, while another option is slightly higher, listing 160,885 square feet.

The plans are tentatively scheduled for review by the city’s Technical Review Committee on Dec. 31, according to the website.

Chattanooga, Tennessee-based CBL & Associates bought Mayfaire Town and Community centers for $192 million in June before reselling Mayfaire Community Center to Principal Real Estate Investors for $56.3 million on Dec. 3. CBL & Associates continues to provide leasing and management services to Mayfaire Community Center. 

Mayfaire officials first launched construction of the Town Center in September 2002 and completed two phases. Phase one opened in the spring of 2004, while phase two work was completed in the fall of 2008.
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