Whole Foods Market to Anchor Greenway Town Center in Portland, Ore.
$6 million redevelopment plan to include grocer’s opening in 2014
PORTLAND, Ore.--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG), a national owner, operator and developer of grocery-anchored and community shopping centers, announced the redevelopment of Greenway Town Center, a 93,000-square-foot neighborhood center located in Tigard, Ore. As part of the center’s enhancements, Whole Foods Market, the world’s leading natural and organic foods supermarket, will open a 37,500-square-foot store in 2014.
Greenway Town Center Redevelopment Rendering (Photo: Business Wire)
The $6 million redevelopment will include a new exterior façade with cedar wood accents, upgraded architectural components, parking lot improvements and new site lighting, landscaping and signage. All retailers will remain open during the redevelopment, which is scheduled to begin in August.
“Whole Foods Market will offer area residents an exciting new grocery experience and add vibrancy to this established center,” said Craig Ramey, senior vice president and market officer for Regency Centers. “The significant investment of Regency Centers and Whole Foods Market will further improve the grocery options in the surrounding community.”
As part of the Regency’s greengenuity® program to reduce the environmental impact of developing and operating shopping centers, Greenway Town Center will incorporate a number of sustainable elements such as energy-efficient lighting, an upgraded storm water retention system and water-efficient landscaping.
Just 12 miles southwest of Portland, Greenway Town Center is located at the northwest corner of SW Scholls Ferry Road and SW 121st Avenue in Tigard, Ore. with daily traffic counts of 37,000. For leasing information, contact Kalin Berger at 503-603-4700 or KalinBerger@RegencyCenters.com.
The center was built in 1979 and acquired by Regency in 2005. Regency owns and operates 10 centers, totaling 834,000 square feet, in Oregon. The properties are managed by an 11-member team with an office in Portland.
About Regency Centers Corporation (NYSE:REG)
Regency is the preeminent national owner, operator and developer of high-quality grocery-anchored and community shopping centers. As of March 31, 2013, the Company owned 345 retail properties, including those held in co-investment partnerships. Including retailer-owned square footage, the portfolio encompassed 46.0 million square feet located in top markets throughout the United States. Since 2000, Regency has developed 209 shopping centers, including those currently in-process, representing an investment at completion of more than $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.
Allyse Sanchez, 303-839-1415, ext. 41
Regency Centers Corporation
Craig Ramey, 503-603-4700
Senior Vice President, Market Officer
Source: Regency Centers Corporation