Regency Centers Announces New Safeway-Anchored Ground-Up Shopping Center Development in Bay Area
Rhea-AI Summary
Regency Centers has announced the Oakley Shops at Laurel Fields, a new ground-up shopping center in Oakley, CA. Anchored by a 56,000-square-foot Safeway supermarket, the 79,000-square-foot development will also feature an additional 23,000 square feet for retail, restaurants, and daily needs. This project, located at the intersection of Laurel Road and O’Hara Avenue, represents Regency’s first significant venture in Northern California. The development aims to fill a gap for high-quality retail and grocery options in the area. According to Senior VP of Investments John Mehigan, the project underscores Regency’s market acumen and strong anchor relationships. Development Partner Craig Ramey highlighted Regency’s capability to uncover opportunities and deliver high-quality properties despite market challenges. Leasing opportunities are available, with more merchant announcements expected soon.
Positive
- New 79,000-square-foot development anchored by a 56,000-square-foot Safeway supermarket.
- First significant development in Northern California submarket.
- Located at a prime intersection addressing local retail needs.
- 23,000 additional square feet for retail, restaurant, and everyday needs.
Negative
- None.
News Market Reaction – REG
In the trading session that priced this news, REG declined 0.24%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
OAKLEY, Calif., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Regency Centers has announced the commencement of Oakley Shops at Laurel Fields (“Oakley Shops”), a new Safeway-anchored ground-up development in Oakley, CA. Oakley Shops will include approximately 79,000-square-feet of retail and marks Regency’s first development in the Northern California submarket. This new development will be situated at the signalized arterial intersection of Laurel Road and O’Hara Avenue and will address a void of limited high-quality retail and grocer destinations in the trade area.
“Oakley Shops is not only a testament to our ability to find deals in the market, but also the strength of our anchor relationships,” said John Mehigan, Senior Vice President of Investments at Regency Centers. “Best-in-class operators know that we can make projects happen, and that our focus on long-term ownership will deliver a quality property in a prime location that will be maintained and enhanced for as long as we own it.”
“Regency has a unique ability to find opportunity and untapped value, regardless of headwinds or hurdles,” said Craig Ramey, Development Partner for Regency Centers. “Our reputation only continues to grow through each success, as well as the consideration and care that we take with our partners.”
Safeway will occupy approximately 56,000 square feet at Oakley Shops, with an additional 23,000 square feet of quality retail, restaurant, and everyday needs. Upcoming merchants are currently in various stages of lease negotiation and discussion, with more announcements anticipated soon.
For more information on Oakley Shops, including leasing opportunities, contact Michelle Rooney at MichelleRooney@regencycenters.com.
About Regency Centers
Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.
Eric Davidson
904 598 7829
EricDavidson@RegencyCenters.com
