The site of a former Lowes Foods grocery store, which closed in 2024, is now being marketed for new retail leases in Wilmington.

The 45,800-square-foot, single-story building and the nearly five acres surrounding it at 805 Pine Grove Drive changed hands in November when Golden Ventures III LLC purchased the site for $5 million, according to property records. The limited liability company is registered to Sam Potter, a partner with Wilmington-based law firm Equitas Law Partners.

In an email, Potter confirmed he’s serving as an attorney for the new owners. 

“The property is being marketed for lease,” Potter wrote. “Beyond that, there are not any specific plans. There is lots of interest in the property, given its location, but nothing final yet. I am sure there will be an announcement when things change.”

Wilmington-based commercial real estate firm BlueCoast Commercial is marketing leases for the building, according to a LoopNet listing. BlueCoast representatives did not respond to the Business Journal's requests for comment on the property.

According to an offering memorandum from BlueCoast, the site “represents a premier retail redevelopment opportunity designed to accommodate users from boutique storefronts to expansive flagship operations.”

The space is “flexible” and “can be fully customized to suit a range of high-demand uses – retail, medical, restaurant or professional office,” the memorandum continues.

The property has 212 parking spaces, according to the memorandum, and is located at the intersection of Pine Grove Drive and Greenville Loop Road, with dual points of ingress and egress. 

The city of Wilmington plans to add a two-lane roundabout nearby at the intersection of Pine Grove Drive and Greenville Loop Road, among other improvements slated for the area. The project is expected to begin later this year, according to the city of Wilmington’s website.

Both roadways bordering the former grocery store have substantial daily traffic volumes, with Pine Grove Drive seeing 21,000 vehicles per day and Greenville Loop Road seeing 13,500 vehicles per day, according to the BlueCoast memorandum.