2200 Westchester Drive
Peters Development, LLC Announces High Point, NC Acquisition
Peters Development, LLC is pleased to announce that it has completed its acquisition of the Westchester Centre shopping center located at 2200 Westchester Drive, High Point, NC. Westchester Centre is a 109,670 sq ft retail center anchored by Food Lion. The purchase also includes 1912 Westchester Dr and 2100 Westchester Dr.
“This acquisition shows our company’s deep commitment to High Point and our belief in the strength and growth of all areas of the city. We remain purpose-driven to give back to our city and so we continue to make significant investments in all areas of High Point. As I have stated before, this is my home and I cannot think of a better place to invest than right here” said Dr. Lenny Peters, CEO and Founder of Peters Development, LLC. “It is our goal to improve all the properties we own and to continue to bring quality tenants to the city. We believe local ownership promotes better stewardship of these High Point properties” says Dr. Peters.
Peters Development will redevelop an outparcel, located along busy Westchester Drive for a new Bethany Medical location. It will be home to five medical providers and will offer primary care, urgent care, specialty care, and pain management services. Bethany Medical offers 15 healthcare specialties and sees over 1,000 patients a day through its doors across North Carolina. “We are very pleased to announce that Bethany Medical has leased stand-alone space at the shopping center with construction to begin in 2022” says Elise Peters Carey, President of Peters Development and Bethany Medical. “We are extremely proud that Bethany Medical will soon be able to provide medical services to an extended area of our city,” according to Ms. Peters Carey.
The Westchester site will become Bethany Medical’s 17th location in North Carolina, including existing locations in Winston-Salem, Greensboro, High Point, Kernersville, Mt. Airy, and N. Wilkesboro. Bethany Medical currently operates in 14 locations with construction almost complete on its 15th location at 2805 S. Main Street, High Point, and the company has announced that it is set to begin construction soon on its 16th location at Forestdale Shopping Center at 108 W. Main Street in Jamestown, NC.
“The Food Lion at Westchester continues to show strength at this center and the remaining rent roll is complimented by other nationally recognized brands including CVS, Family Dollar, Burkes Outlet, and Badcock Furniture. Westchester Centre is located in an area that has seen substantial redevelopment in recent months, highlighted by a large commitment made by the High Point Police Department. We believe the area is poised for continued growth in the future” says Ms. Peters Carey.
The company plans to make substantial improvements to the shopping center as well. Westchester Centre will undergo a complete facelift including new paint, landscaping, and signage, as well as a new parking lot and lighting upgrades. “Peters Development saw this as an opportunity to make improvements and add long-term value to a high-profile property that sits on over 20 acres of land. This center offers multiple access points, including signalized access, high visibility and exceptional signage for the tenants, as well as outparcel development opportunities” according to Dan Hill, Director of Real Estate. “We have the utmost confidence in Food Lion as an anchor tenant. They offer a consistent shopping experience that resonates across a diverse customer base and the value they offer shoppers will help grow their consumer base and bring more visitors to our new and soon to be very improved Westchester Centre,” says Hill.
Peters Development has also announced multiple downtown High Point projects and acquisitions in the past year. Most recently the company broke ground on 650 N Main Street, which will be a striking new 5-story multi-use building. The project includes 7,000 sf of retail space along N. Main Street and 28 high-end residential apartments on the four upper floors, offering one and two-bedroom units. Occupancy will be available in the fourth quarter of 2022. “We remain focused on downtown High Point and we are proud to bring the first new multi-family development to our downtown. We are striving to take High Point higher, together. We remain purpose-driven with a goal of helping downtown High Point to become a year-round destination with the right mix of retail, entertainment, and living options” said Dr. Lenny Peters.
Construction will soon be complete for another Peters Development project along the 600 block of N. Main Street: the ground-up, Class A office and retail building at 665 N Main Street, which is adjacent to Peters’ corporate headquarters. 665 N. Main Street is a three-story, 24,000 SF building that will house retail space on the street level with office space above. The third floor is already fully leased.
Peters Development is a wholly-owned subsidiary of Peters Holdings, LLC which was founded by Dr. Lenny Peters and is operated by both Dr. Peters, CEO, and also Elise Peters Carey, who serves as President of both entities. Peters Holdings is the parent company of multiple subsidiaries operating within the healthcare, lab services, financial services, and commercial real estate industries. Daily operations of Peters Development are headed by Dan Hill, Vice President and Director of Real Estate.