Shopping Center and trade area description:
Hanover Center is a 320,000 square foot community shopping center, located in the geographical center of Wilmington and New Hanover County, NC, at the intersection of Oleander Drive/US 76 and Independence Boulevard. Tenants include Harris Teeter, Talbot’s, Stein Mart, Office Depot, Pier One, Books-A-Million, and Rite Aid. Hanover Center is directly across the street from Independence Mall and anchors Belk, Dillard’s, Sears, and JC Penny.

Hanover Center is in an advantageous position in Wilmington, bordered by strong and growing residential neighborhoods, good roads and visibility. The center and the mall are the closest and most convenient major retail to New Hanover Regional Medical Center which is the county’s largest employer, Historic Downtown Wilmington, and fast growing Northern Brunswick County. Historic Downtown Wilmington is undergoing major growth and redevelopment, including the recently opened world headquarters for Pharmaceutical Product Development Inc, employing 2000 people in Wilmington. The trade area also includes the new and important Cameron Art Museum, University of North Carolina at Wilmington, Verizon, three city parks, Wrightsville and Carolina beaches, and lots of new residential and office growth to the south on Independence Boulevard.

Current enhancement plans for Hanover Center have begun, and include restructuring the front façade, redevelopment of the west end of the center on Independence, and repositioning the tenant mix as old leases expire. There is also room for expansion in store size and depth and one new outparcel.

Facts:
Inline store sales greater than 5,000 ft: $335 psf
Tenant charges:
CAM $.83 psf
Insurance $.31 psf
R real estate taxes $.42 psf

Links:
Independence Mall
Centro
New Hanover Regional Medical Center
Wilmington Cross City Trail
Empie Park
UNCW