After taking ownership of Burgaw’s Pender Landing, a Charlotte-based commercial real estate company is looking to expand its footprint in Burgaw.
New South Properties of the Carolinas, LLC. is planning to make changes to the Food Lion Anchored Center at 602 U.S. 117. Broker Mark Petrone said the company is in the process of doing a major uplift of the area with painting, new roofs and plans for a new parking lot.
“We’re just waiting on some COVID delays to resolves themselves before we repave the parking lot,” he said. “Basically, we’re breathing a lot of life into the center.”
New South Properties purchased the area a few years ago. At one point in time, they owned about 10 shopping centers with the grocery store chain nearby. In addition to Food Lion, some of the other Pender Landing tenants include Subway, MeMa’s Chick’n’ & Ribs, Southern Real Estate, Co., Silhouette Salon, and a martial arts studio.
As the owners of Bandanas Restaurant and Grill are planning to retire, New South Properties is working to find a new tenant for that 4,800 square-foot spot and another nearby suite, which is 2,750 square feet.
“We’re going to be super excited to have a new younger entrepreneur coming into our space and it’s going to benefit the town,” he said. “We love working with local people and it really helps everybody. It benefits the town, there’s local faces and everybody doesn’t love just seeing McDonald’s on the corner.”
Landing in the right spots
New South Properties is looking to build in other areas beyond the shopping center. Petrone said there is a lot of active interest from national brands and said it’s great for economic development and job growth. When it comes to big brands they work with, Petrone said high traffic counts and closeness to interstates are major needs for their numbers. In Burgaw, U.S. 117 intersects with N.C. 53.
“Traffic is increasing and the city of Wilmington is growing, so there is a lot going on,” he said. There’s a lot of interest from national brands, which brings interest from developers. Obviously there going to work with people in the town to develop that land and brings those brands which brings jobs, growth, and benefits to everybody. It’s an exciting time.”
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At the moment due to confidential business matters, the interests from the companies could not be disclosed. Some of the listed retail clients include Chick-fil-A, Staples, Dominoes, UPS, and Panda Express. Wells Fargo, Fairway Investments, Grubb Properties, and Vulcan Meterials Company.
Petrone mentioned Pender County experiencing a good pace of economic has a lot to do with getting consideration from big name companies.
“The entire state is seeing a resurgence as more and more people are moving to North Carolina, which is exciting especially for a lot these smaller towns that missed economic growth over the last 10 to 20 years,” Petrone said. “They now can experience it. As these smaller metros like Wilmington grow, you see people a little farther out to get more value and peace of mind or whatever fits their bill. Communities like Burgaw can really benefit from it.”
Mayor Oliva Dawson said Pender Landing is another great asset to Burgaw, in addition to the charm welcoming visitors through banners and decorations during holidays such as Christmas.
“Pender Landing has been a long standing development providing space for many businesses, Food Lion, restaurants, and much more,” Dawson said. “It has always been a location located off the interstate and highway, now along with Walmart and the fast food restaurants this remains as the first impression of coming into Burgaw before visiting the downtown area. The addition of the nice light poles, Christmas décor, and now banners welcoming you to Burgaw adds to the charm that Burgaw offers to its locals and visitors.”
Reporter Chase Jordan can be reached at email@example.com.
This article originally appeared on Wilmington StarNews: Real estate broker, big brands eye Burgaw’s growing highway corridor