Developers Find Right Spot for Retail Center

CONCORD, NC-Piedmont Land Development Inc. and Delhaize America jointly bought a 32-acre tract here a year ago and held off development until water and sewer services were installed in the area, 20 miles northeast of Downtown Charlotte. The time is now ripe for development, the developers say, but a ground-breaking date hasn’t been set for the planned $5 million, 32-acre mixed-use project. NC 73, connecting Concord and Huntersville, NC is considered a strong growth corridor,

A 38,000-sf Food Lion supermarket will anchor the venture. Delhaize owns Food Lion. Piedmont Land expects to develop another 16,500 sf for small shops and is also marketing a two-acre outparcel at an undetermined price. The balance of the land will be sold for residential development, either single-family or multifamily housing. The residential parcel is priced at $35,000 per acre.

Piedmont and Delhaize bought the 32-acre parcel from the Claude Secrest family for $1.3 million or $40,625 per acre (93 cents per sf).