Broad Reach Development is the dedicated development and redevelopment division of Broad Reach Retail Partners. Nationally capable and locally smart, we specialize in grocery-anchored retail development, shopping center redevelopment, pad site development, and ground-up commercial construction across the Southeast, Midwest, and East Coast.
We are not passive developers. We are operators who build with purpose, discipline, and long-term performance in mind.
For brokers, national retailers, and property owners seeking a retail real estate developer that understands leasing, operations, and capital markets—Broad Reach Development delivers execution.
What We Do
As a fully integrated commercial real estate development company, we oversee every phase of retail development:
- Site selection and feasibility analysis
- Ground-up retail development
- Shopping center redevelopment
- Pad site and outparcel development
- Tenant build-to-suit projects
- Construction management
- Value engineering and cost control
- Dispositions
Our development strategy is rooted in necessity-based retail. We focus on grocery-anchored shopping centers, essential retail corridors, and high-traffic trade areas where long-term tenant demand is durable.
Retail Redevelopment: Unlocking Underutilized Assets
Many shopping centers are structurally sound but operationally misaligned.
Broad Reach Development partners with existing landowners and property owners to reposition and modernize underperforming retail assets. Through disciplined underwriting and hands-on execution, we:
- Re-tenant vacant space
- Develop excess land and outparcels
- Reconfigure site plans for modern retail users
- Deliver build-to-suit opportunities for national retailers
- Increase occupancy and stabilize long-term cash flow
We approach redevelopment as operators, not contractors. Every decision is made with leasing velocity, tenant mix, and long-term asset performance in mind.
Ground-Up Retail Development
Broad Reach Development executes ground-up commercial real estate development projects in high-growth retail corridors nationwide, with emphasis on the Southeast and Midwest.
We identify and control retail sites where:
- Grocery anchors or necessity retailers can drive traffic
- Strong demographics support long-term stability
- Traffic counts and access points support national tenants
- Retail voids create measurable opportunity
From entitlement through construction delivery, we manage the process with urgency and clarity.
Pad Site & Outparcel Development
Pad site development is one of the most effective ways to create value within existing shopping centers.
We specialize in:
- Outparcel subdivision and repositioning
- QSR and drive-thru development
- Medical and service-oriented pad builds
- Ground lease structuring
- Build-to-suit delivery for national tenants
By unlocking underutilized land, we increase NOI, enhance traffic flow, and strengthen the overall merchandising plan of each center.
Tenant Build-to-Suit Development
National retailers require certainty of execution.
Broad Reach Development provides turnkey build-to-suit retail development for tenants seeking:
- Signalized intersections
- Grocery-anchored adjacency
- Drive-thru capability
- Strong co-tenancy
- Structured timelines
Our in-house leasing, acquisitions, and property management teams work in alignment to ensure that development decisions translate into long-term operational success.
Construction Management & Value Engineering
Retail development succeeds or fails on disciplined capital deployment. Broad Reach Retail Partners streamlines the design and construction of complex projects from initiation to completion, ensuring an on-budget, successful outcome for all involved. Our principals have overseen more than 1.5 million square feet of construction and development, representing over $305 million in project cost.
The Broad Reach management team understands that a successful retail or mixed-use project must accommodate the consumer, satisfy lending conditions and regulatory requirements, fulfill tenant requirements, and meet market demand.
Project Review
We analyze design, building features, systems, equipment, and material selections to ensure all essential functions are achieved with required performance, quality, reliability, and safety.
Vendor Selection
Our team of experts actively manages the construction bidding process, selecting not necessarily the lowest bid, but the best group to get the job done right.
Value Engineering
We build projects that perform financially—not projects that simply get delivered. Competitive bidding, detailed cost control, and schedule management are embedded at every stage.
Self-Storage Development Program
Broad Reach’s team of development professionals have a proven track record of navigating the challenges and complications that typically make ground-up development intimidating for most companies. We have the resources, relationships, and experience to overcome obstacles early in the entitlement process, managing costs to budget, and delivering a finished project in a timely fashion.
Over 1 million square feet of self-storage currently under development.
Site Criteria
- Coast to coast in the United States
- Minimum of 1.5 acres
- Up to 25 acres
- Currently zoned for self-storage or planned development
- Vacant land or redevelopments will be considered
- Broad Reach will develop, 3rd party develop, GP or LP for qualified projects
Why Brokers and Property Owners Partner with Broad Reach Development
We understand the full retail lifecycle.
Unlike traditional developers, Broad Reach is also an owner, operator, and active investor in grocery-anchored shopping centers. That perspective informs every development decision.
Our platform integrates development, leasing, property management, asset management, and capital markets. This allows us to evaluate retail development from both a construction and an operational lens.
A Retail Developer Near You — With National Reach
Broad Reach Development executes projects nationwide, with concentration in:
- Southeast markets
- Midwest growth corridors
- East Coast trade areas
If you are a broker controlling a retail site, a national retailer expanding into new markets, or a property owner seeking a redevelopment partner, we welcome the conversation.
We build retail centers that perform—for partners, properties, and people.
Contact Our Development Team
Mike Castellitto
Partner & Chief Operating Officer
In his role as Partner and Chief Operating Officer, Mike oversees the daily operations of Broad Reach’s multiple business operations including business development activities such as property management, capital improvement, construction and development projects. In his 25+ years of commercial real estate experience, Mike has served as Director of Operations for several real estate operators including Philips Edison Company, Strategic Properties, and Himmelrich Associates.
Over the course of his career, Mike has been involved in various types of projects ranging from freestanding commercial sites, retail office, industrial, residential, historic, and mixed-use projects of upwards of $300 million. Mike has overseen the management of nearly 5 million square feet of office, retail, and industrial space and supervised and managed approximately 30 projects.
Mike holds a Bachelor of Science from the University of Maryland, College Park, and he is an active participant in ICSC, NAIOP, and BOMA. During his free time, Mike enjoys spending time with his family, boating, fishing and hunting.
Eric Penney
Senior Director of Development & Redevelopment
Eric Penney joined Broad Reach Retail Partners as our Director of Development & Redevelopment in 2019. Eric is a seasoned real estate professional with over 20 years of experience in leasing, lease negotiation, site selection, development, redevelopment, acquisition and disposition of large owned retail portfolios throughout the USA. Eric has completed over 3 million square feet of various real estate transactions and executed over 800 deals while creating billions of dollars in value for his firms and clients.
Before joining Broad Reach Retail, Eric spent 6 years at Phillips Edison & Company as the Director of Redevelopment and 10 years at Brixmor as the Director of Redevelopment. Eric also leased real estate portfolios for various boutique landlords and helped to grow a lease auditing business. He earned his Bachelor of Science in Business from Sacred Heart University.
In Eric’s free time, he volunteers at Buckhead Church and as an assistant baseball coach for a local youth recreational league.
Dave Rogers
Director of Development
Dave joined Broad Reach as an Acquisitions Associate and has now transitioned into a Development Associate. He will be supporting in the sourcing and construction of new development and redevelopment opportunities for the team. Prior to joining Broad Reach, David Rogers worked as a Capital Markets Associate for Metropolis Capital Advisors, where he arranged financing for all property types around the Mid-Atlantic region. David holds a Bachelor’s Degree in Economics from Ursinus College.
We Create Value in Communities
At Broad Reach, we are experts at changing the course of retail shopping centers to add value for all involved. We strive to improve Properties to serve our Partners and the People who live in each community.
Contact Us Today