Castlewoods Boulevard Shopping Center Photo Gallery

The primary trade area features a population of 215,000 within 10 miles, with a median age of 38 and household income averaging $72,000, per ESRI 2025 data. Families with children under 18 comprise 32% of households, driving demand for family-oriented retail. Daily footfall averages 6,200 visitors, peaking at weekends with grocery traffic, supported by 1.2 million annual vehicles on adjacent roads. This demographic profile favors stable, recession-resistant tenants but limits luxury or high-end retail viability due to middle-market orientation.

Competing properties include Dogwood Festival Market, a 400,000 sq ft power center 2 miles away with national anchors like Belk and HomeGoods, drawing 15,000 daily visitors and achieving $450 psf sales. Castlewoods differentiates through convenience focus but experiences 10-15% sales leakage to larger venues. Local market saturation in grocery and pharmacy categories is high, with three similar anchors within 5 miles, per CoStar analytics, posing risks for new entrants in oversupplied segments while opportunities exist in underserved health and wellness niches.

Base rents range from $16-22 psf NNN, with additional 5-7% overage on gross sales exceeding $300 psf thresholds. Lease terms average 5-10 years, including TI allowances up to $30 psf for qualified tenants. The property maintains good operational quality with recent HVAC upgrades in 2023 and 85% parking ratio, but aging signage and facade from 2005 construction may require $50,000-100,000 in capital for modernizing. Risks include potential anchor turnover, as the grocery lease expires in 2028, impacting co-tenancy protections and overall center performance.