Many of Weingarten Realty’s growth success comes from our boots on the ground efforts where we’re finding unique situations on quality real estate, whether that is negotiating off market, providing an advantageous financial structure for the property owner or identifying embedded growth opportunities in a property through leasing, development and redevelopment expertise. Weingarten Realty is currently working on two development projects in Wake Forest, NC along U.S. Highway 1, also known as Capital Blvd.
Caveness Farms upon completion will be 240, 000 square feet, with Sam’s Club as the proposed anchor. Three junior anchor spaces remain available, ranging in size from 24,000 square feet to 50, 000 square feet. Along U.S. Highway 1, there are four outparcels hosting Mattress Firm, Texas Roadhouse, Red Robin and Chili’s. Two outparcels remain and are 0.92 acres in size. Caveness Farms has excellent access with two curb cuts on U.S. Hwy 1 and connectivity to Main Street via the newly constructed Ligon Mill Rd and cross access with the adjacent Walmart Supercenter.
Wake Forest Crossing II is an exciting outgrowth from the first phase of development, owned by others, that includes anchors Kohl’s and Lowes Foods. Wake Forest Crossing II will add to the property 108,000 square feet of additional retail space. Three additional junior anchor spaces will flank Kohl’s, along with over 32,000 square feet of shop space. Ross Dress for Less, Michaels, TJ Maxx and Petco are proposed retailers to join the development. Four outparcels are available along U.S. Highway 1 and Stadium Dr offering excellent visibility from the highway.