Developer Duo Eyeing $100M Investment in Greensboro Mixed-Use Venture
Simpson Commercial Real Estate and Brown Investment Properties purchased 61.7 acres near Toyota’s $14 billion battery manufacturing facility (shown), with plans to develop a mixed-use project to be called Woody Mill. The joint venture paid $8 million for the site. The Triad Business Journal reports the team is planning to build a 240-unit Class A multifamily project, along with seven outparcels that will be retail-oriented, featuring restaurants and office space.
The apartments would cost roughly $50 million, the commercial sector would cost roughly $30 million and the outparcels would cost roughly $20 million.
The developers, who started the project a year and a half ago, will decide on more concrete plans for Woody Mill by September and plan to break ground before the year ends. They plan for the development to be open in the first or second quarter of 2028.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout