The coming days and weeks will witness the launch of numerous new Wake Forest businesses as interest and activity quickly converge at Grove 98, the well-located crossroads of NC 98 (Dr. Calvin Jones Hwy.) and Ligon Mill Road. Anchored by Wegman’s, the property is humming with the construction of mixed-use real estate assets. New residents and businesses have begun occupying space there -- with more in the works as new retail, restaurant, medical office, and multi-family residential product is delivered.
Stiles Corporation, the Florida-based mixed-use real estate developer, is directing the creation of Grove 98 and reports that demand for space there by residents and businesses is robust. “Quality business destinations like Wake Forest are ideal for mixed-use,” says Mark Hebard, Senior Development Director for the Carolinas at Stiles Corp. “Grove 98 is a great spot, and the volume of traffic is increasing out there.”
Stiles partnered with Wegman’s in delivering the destination grocer’s 104,000 sq.ft. supermarket in early 2021. The two firms continue to maintain a collaborative strategic relationship, says Hebard, who is based in Charlotte. Interest in Grove 98 grew from there, with Stiles working to recruit a mix of businesses that would complement Wegman’s prominent presence on Grove 98’s southwest quadrant. “That’s the general modus operandi for why people want to be there,” Hebard says.
Sleep Number [Nasdaq: SNBR] will be the first business to open at Grove 98’s northwest quadrant. Headquartered in Minnesota, the business is a popular national maker of mattresses and bedding accessories. Sleep Number describes itself as a wellness technology company. In addition to selling through 676 stores and an extensive e-commerce presence, the company has research partnerships with the Mayo Clinic and the American Cancer Society that study the impact of sleep on disease prevention and overall health.
“It’s a pretty popular nationwide franchise,” says Hebard, who says Sleep Number was “first in line” for space at Grove 98. The location is the company’s 23rd in North Carolina. Its opening comes ahead of several new eateries now ramping up for launch in the fall. “It’s probably a little easier to open a retail store than a restaurant from a staffing standpoint,” he explains.
Also eagerly anticipated is a new location for Torchey’s Tacos at Grove 98. With an emphasis on fresh ingredients, the popular food concept grew from a food truck in 2006 and now has about 120 U.S. locations. Its initial shop in North Carolina came with the 2021 opening of a restaurant at Raleigh’s Midtown East, a bustling retail complex similarly anchored by a Wegman’s. The Texas-based chain is part of Success Foods Management Group LLC. Hebard says Torchey’s will open to the public at Grove 98 by the end of September.
Two other food concepts are also set to open near Torchey’s and Sleep Number. Nothing Bundt Cakes, a Nevada-based specialty baking franchise with 500 locations across 40 states, will occupy about 2,000 sq.ft. when it opens in early October. It will be the company’s fourth Triangle location. Also opening soon is Cava Grill, a quick-casual Greek concept offering salads, pitas, and sandwiches. Its 263 restaurants, spread across 22 states and the District of Colombia, are all owned by its DC-based parent, Cava Group [NYSE: CAVA]. Cava’s Grove 98 location will span about 2,400 sq.ft., Hebard says.
DECA Dental Group, a national network of family and cosmetic dentistry practices headquartered in Dallas, will occupy about 4,000 sq.ft. of space when it opens as Ideal Dental in November. DECA’s founder, Dr. Sulman Ahmed, says his disruptive concept aims to be “the Starbucks of dentistry,” seeking patient-friendly locations near retailers to optimize convenience. A final healthcare office, One Medical, will open in early 2024, Hebard says, occupying about 4,000 sq.ft. of space. The business, which is associated with Duke Health, is a membership-based primary care practice emphasizing accessibility and patient convenience.
Just a few steps away, Stiles has delivered the first phase of The Lindley at Grove 98, a multi-family residential complex that will soon be fully complete with all amenities. Lindley’s first three tenants arrived in late August, with more leases now being executed. The one- and two-bedroom apartment units are appealing to an “eclectic” profile of new residents. “It’s a nicer product type,” Hebard says of the property’s appeal to quality-minded renters.
Across the street, in Grove 98’s northeast quadrant, work is well underway on the next phase of retail and restaurant space, as well as a two-story destination fitness facility that will span 22,000 sq.ft. Expect a blend of additional casual dining establishments, retailers, and medical offices, Hebard says. Of the ten commercial spaces now under construction in the quadrant, only one was without a tenant as of August. “We expect a lease on the remaining out parcel to the east in a couple of weeks,” he says.
Faltering confidence by some U.S. businesses over interest-rate hikes and widespread talk of a looming recession have done nothing to dampen interest in any of the spaces at Grove 98, according to Hebard. “There have been no changes over the economy,” he says. “Everyone remains on board.” He also credits support from the Town of Wake Forest for helping keep Stiles’ plans on track. “We’re very satisfied with the local support we’ve received,” he says. “We work well with the Town and all their officials.”
Jason Cannon, President of the Wake Forest Business and Industry Partnership (WFBIP), says business and governmental leaders in Wake Forest are equally excited about the successful launch of Grove 98. “It’s going to be a showcase for the great things that can happen when a municipality lays out a firm vision and works with a proven developer who can deliver a quality property,” Cannon says. “Grove 98 will be both an economic and community asset for the Town – and beyond. There is every indication it will become a regional destination for shoppers, diners, businesses, and new residents.”
