The Koury Corporation has secured six additional tenants for a shopping center that will be anchored by a Target store near the intersection of Trollingwood-Hawfields Road and I-85/40.
The newest tenants to be announced for the forthcoming, 305,000-square foot mixed-use development, named “Third & Wood,” include: Marshalls; Burlington Coat Factory; Five Below; Home Goods; Michaels; and Pet Smart.
Target was the first tenant secured early last year, based on a deed to the property that was filed at the time with Alamance County’s Register of Deeds. The Minneapolis, Minnesota-headquartered retailer purchased 10.7 acres from the Koury Corporation for $1.975 million in January 2025 to build a 126,870-square foot store that will be the retailer’s second location in Alamance County.
Meanwhile, Koury has secured additional letters of intent for five spaces, and leases are in the process of being finalized for another seven spaces at Third & Wood, according to the developer. The identities of those prospective tenants have not yet been disclosed.
A representative for Koury had told Mebane’s city council in December 2024 that a 1.67-acre parcel that Alamance County government owns along Third Street Extension and adjacent to the Target site would provide a second entrance to the site required by the state Department of Transportation (DOT).
Mebane’s city council had approved conditional rezoning for the project in December 2024, contingent upon there being two access points to the residential component of Third & Wood. The residential component eventually will have 683 multifamily housing units on the back portion of the 83-acre site, based on Koury’s marketing materials.
Koury’s lawyers had told Mebane city officials that the developer had the 1.67-acre property owned by Alamance County under contract.
Alamance County attorney Rik Stevens and assistant county manager Brian Baker had said in an interview at the time that they were “in negotiations” to swap the 1.67-acre parcel on Third Street Extension for part of another 48.77-acre parcel that Koury planned to buy at the northeast corner of Smith Drive and N.C. Highway 119 in order to build a future EMS station on Mebane’s outskirts.
That parcel still had not changed hands by press time, according to Alamance County’s Register of Deeds.
