Regency Centers Announces New Safeway-Anchored Ground-Up Shopping Center Development in Bay Area
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.
Regency Centers ha annunciato il Oakley Shops at Laurel Fields, un nuovo centro commerciale di nuova costruzione a Oakley, CA. Ancorato da un supermercato Safeway di 56.000 piedi quadrati, lo sviluppo di 79.000 piedi quadrati includerà anche ulteriori 23.000 piedi quadrati per negozi al dettaglio, ristoranti e necessità quotidiane. Questo progetto, situato all'incrocio tra Laurel Road e O’Hara Avenue, rappresenta il primo investimento significativo di Regency nel Nord della California. Lo sviluppo mira a colmare una lacuna per opzioni di alta qualità nel commercio al dettaglio e nell'alimentazione nella zona. Secondo il VP Senior degli Investimenti John Mehigan, il progetto sottolinea l'acume di mercato di Regency e le solide relazioni con gli ancoranti. Il Partner dello Sviluppo Craig Ramey ha evidenziato la capacità di Regency di scoprire opportunità e offrire proprietà di alta qualità nonostante le sfide del mercato. Sono disponibili opportunità di locazione, con ulteriori annunci di commercianti attesi a breve.
Regency Centers ha anunciado los Oakley Shops at Laurel Fields, un nuevo centro comercial de nueva construcción en Oakley, CA. Anclado por un supermercado Safeway de 56,000 pies cuadrados, el desarrollo de 79,000 pies cuadrados también contará con 23,000 pies cuadrados adicionales para comercio minorista, restaurantes y necesidades diarias. Este proyecto, ubicado en la intersección de Laurel Road y O’Hara Avenue, representa la primera incursión significativa de Regency en el norte de California. El desarrollo tiene como objetivo cubrir una brecha para opciones de alta calidad en comercio y alimentos en el área. Según el VP Senior de Inversiones John Mehigan, el proyecto subraya la perspicacia del mercado de Regency y sus sólidas relaciones con los anclajes. El Socio de Desarrollo Craig Ramey destacó la capacidad de Regency para descubrir oportunidades y proporcionar propiedades de alta calidad a pesar de los desafíos del mercado. Hay oportunidades de arrendamiento disponibles, con más anuncios de comerciantes esperados pronto.
Regency Centers는 오클리, CA에 새로 지어진 쇼핑 센터인 Oakley Shops at Laurel Fields를 발표했습니다. 56,000 평방피트의 Safeway 슈퍼마켓에 의해 주최되는 79,000 평방피트 개발은 또한 추가 23,000 평방피트의 소매, 식당 및 일상 용품 공간을 제공합니다. Laurel Road와 O’Hara Avenue의 교차로에 위치한 이 프로젝트는 노던 캘리포니아에서 Regency의 첫 번째 중요한 사업을 나타냅니다. 이 개발은 이 지역의 고품질 소매 및 식료품 옵션의 공백을 해소하는 것을 목표로 합니다. 투자 담당 수석 VP인 John Mehigan에 따르면, 이 프로젝트는 Regency의 시장 통찰력과 강력한 안착 관계를 강조합니다. 개발 파트너 Craig Ramey는 시장의 도전에도 불구하고 기회를 찾아내고 고품질의 자산을 제공할 수 있는 Regency의 능력을 강조했습니다. 임대 기회가 있으며, 더 많은 상인 발표가 곧 있을 예정입니다.
Regency Centers a annoncé les Oakley Shops at Laurel Fields, un nouveau centre commercial construit de toutes pièces à Oakley, CA. Ancré par un supermarché Safeway de 56 000 pieds carrés, le développement de 79 000 pieds carrés comprendra également 23 000 pieds carrés supplémentaires pour le commerce de détail, les restaurants et les besoins quotidiens. Ce projet, situé à l'intersection de Laurel Road et d'O’Hara Avenue, représente la première incursion significative de Regency dans le nord de la Californie. Le développement vise à combler un vide pour des options de vente au détail et d'épicerie de haute qualité dans la région. Selon John Mehigan, VP senior des investissements, le projet souligne l'acuité du marché de Regency et ses solides relations d'ancrage. Le partenaire de développement Craig Ramey a souligné la capacité de Regency à dénicher des opportunités et à offrir des propriétés de haute qualité malgré les défis du marché. Des opportunités de bail sont disponibles, avec d'autres annonces de commerçants à venir prochainement.
Regency Centers hat die Oakley Shops at Laurel Fields angekündigt, ein neues Shopping Center in Oakley, CA. Angeführt von einem 56.000 Quadratfuß großen Safeway-Supermarkt wird die 79.000 Quadratfuß große Entwicklung auch weitere 23.000 Quadratfuß für Einzelhandel, Restaurants und tägliche Bedürfnisse bieten. Dieses Projekt, das an der Kreuzung von Laurel Road und O’Hara Avenue liegt, stellt Regencys erster bedeutender Vorstoß in Nordkalifornien dar. Die Entwicklung zielt darauf ab, eine Lücke für hochwertige Einzelhandels- und Lebensmitteloptionen in der Region zu schließen. Laut Senior VP der Investitionen, John Mehigan, unterstreicht das Projekt Regencys Marktgeschick und starke Partnerschaften mit den Ankern. Entwicklungs-Partner Craig Ramey betonte Regencys Fähigkeit, Chancen zu entdecken und trotz der Herausforderungen auf dem Markt hochwertige Immobilien zu liefern. Mietmöglichkeiten sind verfügbar, mit weiteren Händlerankündigungen, die in Kürze erwartet werden.
- 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.
- None.
Insights
Regency Centers' announcement of the Oakley Shops development is a strategic move in the competitive Bay Area market. The
However, investors should note that ground-up developments carry higher risks and longer payback periods compared to acquisitions. The success will largely depend on Regency's ability to attract quality tenants and execute the project efficiently. While Safeway's commitment is promising, filling the remaining
The Oakley Shops development reflects a calculated bet on the resilience of brick-and-mortar retail in suburban markets. By focusing on everyday needs and anchoring with a grocer, Regency is positioning the center to be e-commerce resistant. The
The project's success will hinge on demographic trends in Oakley and surrounding areas. If population growth and income levels support the retail expansion, Regency could see strong returns. However, investors should monitor the leasing progress of the remaining space, as it will indicate market demand and potential for rental income growth. The emphasis on quality and long-term ownership suggests a focus on sustainable value creation rather than short-term gains.
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
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