Sunday, March 4, 2012

Regency Centers Announces 260,000-SF Ground-up Development in Houston, TX



 HOUSTON, TX--(BUSINESS WIRE)-- Regency Centers (NYSE:REG), a national owner, operator and developer of grocery-anchored and community shopping centers, has begun construction of Southpark at Cinco Ranch, a 260,000-square-foot neighborhood center anchored by market-dominant grocer Kroger, in Fort Bend County.

The neighborhood center is strategically located at the intersection of two main arterial roads, Westpark Tollway (FM1093), the east/west connection to downtown Houston, and Spring Green Boulevard (FM 723), which will connect Westpark Tollway to Interstate 10.

In partnership with Excel Commercial Real Estate LLC, Regency Centers began construction of the center’s first phase on February 20th with anchor openings scheduled for the fourth quarter of 2012.

Located 32 miles west of downtown Houston, Southpark at Cinco Ranch is the first anchored retail development, located west of Grand Parkway, within Cinco Ranch, one of the nation’s fastest growing master planned communities.

The project’s first phase will include a 101,497-square-foot Kroger and fuel center, which will create 275 new jobs, a 71,680-square-foot Houston-based sporting goods retailer, 29,920 square feet of small shops and seven outparcels.

“We couldn’t be more pleased to announce the groundbreaking of Southpark at Cinco Ranch. The shopping center will benefit from limited retail competition and the area’s affluent population which is growing three times faster than the surrounding market,” said Abe Pacetti (top right photo), senior manager of investments for Regency Centers.

“Southpark at Cinco Ranch has all the key attributes that define a Regency center – market-dominant anchors, a prime location, high barriers to entry and excellent demographics.

"We’re excited about becoming a long-term citizen of such a fabulous master planned community and continuing to expand our presence in Houston through the development of quality shopping centers.”

Southpark at Cinco Ranch is 72 percent preleased and will add an additional 57,000 square feet in the second phase. To lease space in Phases I and II, contact Leasing Agent Ben Brown at 713.599.3517.

Regency Centers owns and/or manages 12 properties in Houston totaling 1.7 million square feet.
  
Contact:

Regency Centers Corporation
Abe Pacetti, 713-599-3502
Senior Manager Investments
or
The Hoffman Agency Regency Centers
Bonnie Hayflick, 904-398-9663


No comments:

Post a Comment