Harris Teeter, Marshalls Plan New Wescott Stores

A shopping center underway on Dorchester Road is nearly 80 percent occupied after developers signed leases recently with Harris Teeter and Marshall's, according to a developer news release.

Construction began in 2012 on the $70 million Corners at Wescott, and this week developers announced the anchor stores for the  167,000-square-foot retail center.

New York based Cohen Real Estate, a commercial real estate services firm, has arranged the joint venture partnership to develop Phase I of the complex.

North American Development Group, a national owner/manager with over 14 million square feet of shopping centers in its portfolio, provided the new equity investment for the retail power center, which will be developed by Atlanta-based Hendon Properties.

The 22-acre site, located on Dorchester Road and Wescott Boulevard in North Charleston, is 80 percent pre-leased. Construction began in the third quarter of 2012 and will be completed in summer 2013. While construction is in the city limits of North Charleston, the location is within the Summerville zipcode. 

“Both the original developer and the new equity partner worked seamlessly throughout the transaction to make sure all of the anchor tenant leases and all city approvals were in place so that construction could start right away to meet the demand for the stores to open as quickly as possible,” said Michael Cleeman, Vice President of Cohen Real Estate, who represented the new equity investor on this transaction.