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NAP Spots Retail Void in So. Virginia

DANVILLE, VA-The proposed Coleman MarketPlace trade area includes 335,703 residents with a 2006 average household income of $45,489. The immediate, five-mile radius contains 56,071 residents with a 2006 average household income of $40,925.

By Melissa Kress | Updated on May 24, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

DANVILLE, VA-While residents of this Southern Virginia town will find a traditional mall experience in Piedmont Mall, to shop at open-air regional shopping centers like those cropping up across the country they have two choices: drive one hour to Lynchburg or cross the state line an hour in the other direction to Greensboro, NC.

Sitting on the border of North Carolina and Virginia, the town is experiencing a retail void, according to North American Properties. To fill that void, NAP plans to build Coleman MarketPlace here, a 550,00-sf regional community center. According to NAP’s research, there are 56,071 residents with a 2006 average household income of $40,925 within a five-mile radius of the proposed center. In addition, there are 82,036 residents with a 2006 average household income of $43,844 within a 10-mile radius and 109,055 residents with a 2006 average household income of $44,436 within a 15-mile radius. All total, the trade area has 335,703 residents with a 2006 average household income of $45,489.

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