Construction has started on the first phase of what will be a nearly 16-acre development in Denver to be anchored by that town’s first Publix grocery store. The retail portion of Cambridge Village will be anchored by that roughly 49,100-square-foot supermarket, and an additional 13,100 square feet of space will house tenants including The UPS Store, Lee Spa Nails and Crafty Burg’r n’ Tap.
The shopping center is located at the intersection of N.C. Highway 16 Business and N.C. Highway 73.
“We’re encouraged by the enthusiasm and excitement we have received from the Denver community,” says Jay Priester, vice president for developer Cambridge Properties, in a prepared statement. “There’s an unmet demand for restaurants and retail in the area, and we’re excited to bring more good things to Eastern Lincoln County.”
Site work for the project began in February, and completion of phase one is expected in the first quarter of next year. BB&T Corp. (NYSE:BBT) is providing construction financing.
In addition to the retail section being constructed now, three parcels are available for sale or lease. Future phases are expected to include office and multifamily residential components.