Sunday, October 1, 2023

Northern company purchases popular commercial hub The Forum

True Blue Butcher and Table is now open in The Forum seven days a week. (Port City Daily photo/ JOHANNA FEREBEE)
CenterSquare announced Friday it purchased popular retail hub The Forum. (Port City Daily/file)

WILMINGTON — A new company has taken over ownership of a popular retail hub in Wilmington.

Pennsylvania-based CenterSquare Investment Management announced Friday it acquired The Forum, off Military Cutoff Road.

The 105,785 square foot property is 100% buildout with tenants, including Dunkin’ Donuts, Jimmy John’s, Club Pilates, UPS, Chop’t, Bento Box, True Blue Butcher and
Osteria Cicchetti.

While there are no current plans to bring in additional tenants, according to spokesperson Will Butler, the company plans to enhance the shopping center’s lighting and signage.

According to a press release from CenterSquare the purchase aligns with its strategy of “targeting unanchored, high quality” retail centers. The Forum is located with easy access to U.S. 17, which handles roughly 39,000 vehicles daily.

The Forum sits on roughly 10 acres of land about 1 mile from Wrightsville Beach and across from Mayfaire shopping center.

The recent purchase marks CenterSquare’s first property acquisition in the tri-county region, but its 37th property acquisition nationally and its 15th in the South. The closest essential service retail locations owned by CenterSquare is Amberly Village in Cary, Riverbend Village in Charlotte and Trade Court Shoppes in Mooresville.

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