The construction of 202,155 SF of new retail space is well under way on Wake Forest Crossing II. The property is shadow anchored by an existing Kohl’s. The development project will feature four new junior anchor boxes, which will include TJ Maxx, Ross Dress For Less, Michaels and Petco. The remaining shop space is almost fully leased with tenants such as Rack Room Shoes, Kirkland’s and Massage Envy. A few great opportunities exist.
The center benefits from excellent visibility and access from Hwy 1 (Capital Blvd), the primary arterial from Raleigh to Wake Forest. The affluent suburb of Wake Forest is the fastest-growing corner of the thriving Raleigh market and is expected to see continued employment and population growth that will outpace the expansion in retail space. Specifically, this retail development is set to serve a population that’s expected to grow by more than 16% over the next five years.
The first tenants will open late second quarter or early third quarter of 2015. A Grand Opening is slated for early fall, in time for back to school shopping. Once completed, the new retailers (which include the four junior anchors, as well as several eateries and locally-owned businesses) will employ more than approximately 220 full and part-time workers from the local area.
We hope to talk to you about this exciting new development at the Carolinas Idea Exchange, stop by booth 529 to discuss the limited remaining retail opportunities.