Morgan Property Group, LLC has acquired land for a new retail development in the Village of Clemmons, North Carolina. Peace Haven Village will be a 79,000 square foot shopping center at the southwest corner of Lewisville Clemmons Road & Peace Haven Road. Publix Super Markets will anchor the center and occupy approximately 49,000 square feet of space. The development will feature an additional 30,000 square feet of retail space, including three outparcels. Pet Supermarket, the country’s third largest pet supply store, will occupy 7,020 square feet next to Publix in the development. The new center will connect to Clemmons Village to the south and the Jerry Long Family YMCA to the west.
MPG, through its affiliate Lewisville Clemmons Road Realty, LLC, acquired 14.179 acres at this intersection on July 7, 2016 from four different owners for a combined purchase price of $3,976,080. James A. Luke, Jr. of Freeman Commercial Realty represented the Sellers in the transaction and Bob Vande Weghe of Evergreen Commercial Properties represented MPG.
“We are excited that this project is taking the next step,” said Trey Morgan, President of MPG. “Our pre-leasing has exceeded expectations, and we are highly confident the finished product will be something the community will truly enjoy.”
As part of the development, a traffic signal will be installed at Village Club Lane and Peace Haven Road, and Jesse Lane will be extended to connect to Town Center Drive, allowing for easier accessibility by local residents and shoppers. Several areas have been set aside for outdoor seating and gathering space.
Construction on Publix and the inline retail space is expected to commence late Summer 2016, with anticipated opening at the end of 2017. For leasing information, please call Darrell Palasciano at The Shopping Center Group at 704-335-5455.
Publix Super Markets, Inc. (www.publix.com), founded in 1930 by George W. Jenkins, is a private corporation that is wholly owned by present and past employees. It is the largest employee-owned grocery chain in the United States. Publix is based in Lakeland, Florida with locations in Florida, Georgia, Alabama, South Carolina, Tennessee, and North Carolina. Publix is currently rated No. 1 in the Temkin Customer Experience Ratings (2015), ranked on Fortune magazine’s list of 100 Best Companies to Work For (2015) and was ranked No. 8 on Forbes’ 2014 list of America’s Largest Private Companies. The company’s retail sales in 2014 reached $30.6 billion.
Headquartered in Sunrise, FL, Pet Supermarket (www.petsupermarket.com) is the largest specialty retailer of pet food and pet-related supplies based in the southeastern US. Founded in 1973 by Chuck West as Pet Circus, the family-owned company became Pet Supermarket in 1986. The Company operates over 150 stores in Florida, as well as stores in Georgia, Alabama, North Carolina, South Carolina, Tennessee, Texas, Kentucky, California and Nevada. Over 1 million customers are active members of the Company’s loyalty program.
For over thirty-nine years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and urgent care medical projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.