Blog

We are 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.

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Leasing: New Tenants and Available Spaces Across Broad Reach’s Portfolio

To date this year, we have welcomed five new tenants into our 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, we have 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.

We continue to offer premium leasing opportunities across our 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

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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. Our team 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 our 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, our shopping center Penn Crossing is listed for sale at an undisclosed price with Matthews—one of the nation’s fastest growing commercial real estate brokerage firms—and we are actively seeking new properties to add to our growing portfolio. Our 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.

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ICSC Las Vegas: Meet Us at Booth #310U South

The Broad Reach team will be attending ICSC Las Vegas from May 18–20 to connect with other industry professionals. We will be at booth #310U (South) throughout the event and welcome the opportunity to discuss potential partnerships, acquisitions, and leasing opportunities.

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Team Expansion: Now Hiring a Chief Financial Officer, Senior Accountant, and Summer Intern

As we continue to grow our portfolio of properties, our team is also growing its staff. We are currently in process of hiring a Chief Financial Officer (CFO) to join our 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, contact our team directly.