A local developer has purchased a key parcel alongside Super Wal-Mart in Waynesville, potentially kick-starting long-awaited commercial redevelopment along the South Main Street corridor.
The coming of Super Wal-Mart was heralded as an instant recipe for growth around it. But by the time Wal-Mart opened its doors a year ago, the recession was in full swing. Not only has a South Main boom failed to materialize, but Home Depot killed plans to open a store there.
But Brian Noland, a Waynesville developer and Realtor, is drafting plans for a retail strip sporting six storefronts along South Main Street with hopes of attracting national franchises.
“I put myself in their shoes, and if I am looking to go somewhere, that is definitely a hot spot,” Noland said, citing traffic volume from Wal-Mart and the easy access off the U.S. 23-74 bypass.
Noland closed on the two-acre parcel this month for $600,000. The total project will cost several million dollars, he said. Noland hopes to have the building completed and occupied by early summer.
Mark Clasby, the Haywood County Economic Development Director, said he is glad to see movement in the area. While Waynesville has the consumer demand to support many of the national franchises Noland is likely courting, scouts often look solely at population data, Clasby said.
“But we know there are more people than that because of tourists and the second-home market. They just don’t necessarily show up,” Clasby said. “It will take some salesmanship to convince [retailers] from a demographic standpoint that ‘You need to be here.’”
Noland has a national franchise broker working to line up leases. Noland said he was “a very small fish in a big sea,” but believes if he builds it, they will come.
Meanwhile, a second so-called “outparcel” in the Super Wal-Mart complex has also sold. A 1.8-acre tract behind Hardees sold for $550,000. The developer of the site, Donald Holland, has submitted site plans to the town for a car wash and oil change business and an additional commercial building for an unidentified tenant. The site is located along the Waynesville Commons entrance drive off South Main Street.
While Noland has not yet locked in leases, he already has the project underway with the building design. The attractive architecture will sport stacked stone and stucco with varying rooflines and pronounced eaves. It’s a good thing, since a run-of-the-mill, monotonous, low-slung strip mall wouldn’t pass muster with the town’s design standards. Noland has yet to submit his plans to the town for approval, but believes the town will like the look.
The development of the Super Wal-Mart outparcels were considered key to the appearance of South Main. Town leaders hoped attractive developments fronting South Main would visually shield the sprawling Wal-Mart parking lot set further back on the site.
Noland is a Realtor with Remax Creekside Realty. He is currently developing a 46-unit affordable townhouse development in the Clyde area. His first foray into development was in the mini-storage unit business 14 years ago. He has also built and operated three car wash and lube locations in Haywood County.
“I love developing. I really do,” Noland said. “Hopefully, the whole shopping center itself will be a one-stop shop.”
Noland has had the property under contract for 10 months. He purchased it from Cedarwood Development, a national firm that developed the complex known as Waynesville Commons and leases the site to Super Wal-Mart.
Several property owners along the corridor have had their property on the market since the coming of Super Wal-Mart, even booting out current tenants in anticipation of hot demand by national chains seeking proximity to the retail giant. So far, these property owners have failed to find takers.
Best Buy and a Verizon Wireless store are the only two major retailers that have set up shop around Wal-Mart so far.
The 12-acre site immediately beside Wal-Mart that was once slated for a Home Depot does not appear to have a taker yet. Home Depot, which had already purchased the site and even designed a building before backing out, still owns the site and is actively marketing it.
“The economy has obviously had an impact on that,” Clasby said. “It’s not an easy market, there is no question about it.”