Broad Reach Retail Partners continues to expand its footprint and strengthen its portfolio. From leasing and acquisitions to new developments, here is a look at their latest accomplishments and upcoming opportunities.
ANNAPOLIS, Md., March 14, 2025 /PRNewswire-PRWeb/ -- Development: Now Leasing Hartford Terrace
Broad Reach is excited to announce that Hartford Terrace, a new retail development in Davenport, Florida, is now leasing. This highly anticipated project offers prime opportunities for QSR, full-service restaurants, retail, medical, or car wash businesses.
Local demographics include over 5,500 people in a one-mile radius with an average household income of over $97 thousand.
Listed by Alex Bisbee and Payton Foster of Insite Commercial Real Estate, Hartford Terrace presents an excellent opportunity for businesses looking to capitalize on the area's explosive growth. The property features pads that are available for ground lease or build-to-suit.
Leasing: New Tenants and Available Spaces Across Broad Reach's Portfolio
To date this year, Broad Reach has welcomed five new tenants into their shopping centers, with Shaghf Coffee moving into Shelby Corners in Utica, Michigan, DS Nails leasing a suite at Wilmington Plaza in Wilmington, Ohio, and Irish Connection Sports Cards joining the tenants at Heritage Place in Granger, Indiana. In addition, the company has seen many lease renewals from significant tenants, such as Fresh Market, Honey Baked Ham, Firehouse Subs, Great Clips, Pink 7 Proper, and Direct Auto Insurance.
Broad Reach continues to offer premium leasing opportunities across their portfolio, current availabilities including:
Avent Ferry in Raleigh, North Carolina: anchored by a Food Lion with little competition in a densely populated area catering to nearly half a million people within the highly coveted Beltline of Raleigh.
- 1 Space Available: 920± square feet
Baker Square in Omaha, Nebraska: anchored by an Aldi within a high-visibility location with multiple access points within the primary retail corridor.
- 5 Spaces Available: 882± square feet | 1,920± square feet | 2,300± square feet | 10,000± square feet | 31,836± square feet
Carlisle Commons in Carlisle, Pennsylvania: anchored by a Walmart Supercenter with excellent roadside visibility, just seconds from the highway.
- 2 Spaces Available: 3,738± square feet | 6,000± square feet
Covington Plaza in Fort Wayne, Indiana: anchored by a Fresh Market and top-ranked as the most visited neighborhood center in all of Fort Wayne.
- 5 Spaces Available: 1,160± square feet | 1,168± square feet | 1,500± square feet | 2,800± square feet | 6,998± square feet
Eagle Village in Fredericksburg, Virginia: anchored by a Giant food store across from the University of Mary Washington and adjacent to Mary Washington Hospital.
- 3 Spaces Available: 1,320± square feet | 6,300± square feet | 0.54 acres (outparcel)
Green Ridge Plaza in Scranton, Pennsylvania: anchored by a Giant food store less than two miles from downtown within an infill and dense community.
- 1 Space Available: 3,500± square feet
Henderson Pointe in Henderson, North Carolina: anchored by a Food Lion within the Dabney Drive retail corridor, the main commercial corridor in Henderson.
- 1 Space Available: 18,000± square feet
Heritage Square in Granger, Indiana: anchored by a Martin's and located between the fastest growing and highest income residential area, including proximity to Notre Dame University and three other colleges.
- 6 Spaces Available: 1,000± square feet | 1,470± square feet | 1,900± square feet | 1,991± square feet | 2,063± square feet | 4,673± square feet
Hunt River Commons in North Kingstown, Rhode Island: anchored by a Stop & Shop with a signalized entrance on Frenchtown Road and direct, easy access to three major roads: RI 4, Route 403, and Route 1.
- 2 Spaces Available: 4,548± square feet | 0.25 acres (outparcel)
Penn Crossing in Jeannette, Pennsylvania: anchored by a Giant Eagle with limited competition within a three-mile radius due to the city's topography.
- 6 Spaces Available: 800± square feet | 1,029± square feet | 1,400± square feet | 1,629± square feet | 3,140± square feet | 5,371± square feet
Shelby Corners in Utica, Michigan: anchored by a Target and centrally located amongst all major retail traffic with proximity to local community colleges, universities, and major medical centers.
- 4 Spaces Available: 2,000± square feet | 4,363± square feet | 34,924± square feet | 42,160± square feet
Sheridan Village in Peoria, Illinois: anchored by a HyVee with a new parking surface completed in 2024 and a façade renovation in 2020.
- 7 Spaces Available: 1,200± square feet | 1,353± square feet | 1,700± square feet | 1,875± square feet | 5,697± square feet | 6,600± square feet | 0.5 acres (outlot)
South Grove in Knoxville, Tennessee: anchored by a Food City in a high-volume center with three signalized entrances.
- 2 Spaces Available: 1,600± square feet | 4,000± square feet
Warsaw Village in Warsaw, Virginia: anchored by a Food Lion just a mile from the 117-acre campus of Rappahannock Community College.
- 2 Spaces Available: 2,800± square feet | 0.97 acres (pad)
Wilmington Plaza in Wilmington, Ohio: anchored by a Kroger in the heart of the commercial corridor with excellent visibility on Route 22.
- 5 Spaces Available: 600± square feet | 3,000± square feet | 4,800± square feet | 16,800± square feet | 21,992± square feet
Woodland Heights in Streamwood, Illinois: anchored by a Jewel Osco on a prime thoroughfare for commuter traffic.
- 6 Spaces Available: 1,010± square feet | 1,200± square feet | 2,750± square feet | 4,500± square feet | 4,850± square feet | 33,500± square feet
Acquisitions: Recent Sale, New Listing, And New Investment Opportunities
In January, Broad Reach successfully closed the sale of Wood River Plaza in Illinois, a 65,838-square-foot shopping center located in Wood River, Illinois, approximately 15 miles northeast of downtown St. Louis. Broad Reach originally acquired the property in August 2017 and has since executed a robust value-enhancement strategy, culminating in the property's sale in January 2024.
During Broad Reach's ownership, Wood River Plaza's occupancy surged from 60.87% to 88.38%—a 45% increase—reflecting the company's commitment to strategic leasing and asset optimization. The property's strong tenant mix includes Five Below, Edward Jones, Great Clips, Subway, Sally Beauty, Dollar Tree, H&R Block, America's Best Contacts & Eyeglasses, Help at Home, and GameStop, reinforcing the center's position as a retail destination.
Currently, Broad Reach has their shopping center Penn Crossing listed for sale at an undisclosed price with Matthews—one of the nation's fastest growing commercial real estate brokerage firms—and the company is actively seeking new properties to add to their growing portfolio. Their acquisition criteria for potential properties includes nationwide shopping centers over 50,000 square feet with at least 15% available vacancy, as well as a 7% cap rate and a hold period of 3–5 years. Transactions sizes are typically between $5 million and $50 million.
ICSC Las Vegas: Meet Us at Booth #310U South
Broad Reach will be attending ICSC Las Vegas from May 18–20 to connect with other industry professionals. Their team will be at booth #310U (South) throughout the event and welcomes the opportunity to discuss potential partnerships, acquisitions, and leasing opportunities.
Team Expansion: Now Hiring a Chief Financial Officer, Senior Accountant, and Summer Intern
As Broad Reach continues to grow their portfolio of properties, the team is also growing its staff. Broad Reach is currently in process of hiring a Chief Financial Officer (CFO) to join their leadership team, as well as a Senior Accountant and Summer Intern. The Broad Reach team is always searching for excellent talent—for more information on these opportunities or for general employment inquiries, visit www.broadreachretail.com or contact the Broad Reach team directly.
About Broad Reach Retail Partners
Broad Reach Retail Partners is a full-service real estate investment and management firm specializing in repositioning and enhancing neighborhood shopping centers. Founded in 2006, Broad Reach Retail Partners, LLC is a privately held, fully integrated owner and operator of shopping centers. Since its inception, Broad Reach has owned, leased, or managed 66 centers, representing over 5 million square feet. The company's mission is to create value for its partners, properties, and people by maximizing the full potential of underutilized shopping centers through focused leasing, disciplined buying, and meticulous management. With a proven track record of transforming underperforming assets into thriving retail destinations, Broad Reach is committed to delivering value to investors, tenants, and communities alike. For more information, visit BroadReachRetail.com.
Media Contact
Emily Roberts
Marketing & Communications
Broad Reach Retail Partners
Media Contact
Emily Roberts, Broad Reach Retail Partners, 1 4432254808 1013, [email protected], www.broadreachretail.com
SOURCE Broad Reach Retail Partners
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