Wheeler acquires three retail development properties for $4.2M Wheeler announced that it has acquired three development properties for an acquisition value of $4.2M. The three assets were acquired from company affiliate Development Fund I, and were paid for using a combination of cash and the assumption of debt. The company plans to develop the parcels into future retail properties. The three undeveloped properties consist in total of approximately 55.2 acres of land located in Edenton, North Carolina, Moyock, North Carolina and Courtland, Virginia. Each of the assets is located in commercial zones.