Regency Centers to Begin 148,000 SF Ground-Up Retail Development in Schererville, Ind.
$50 Million Project Brings Gordmans, Ross Dress for Less, HomeGoods and DSW to the Market
SCHERERVILLE, Ind.--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE: REG ) , a national owner, operator and developer of grocery-anchored and community shopping centers, has begun construction on the first phase of Shops on Main, a 147,851-square-foot community shopping center anchored by Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse. The center is strategically located at the intersection of two main arterial roads, U.S. Route 41 and Main Street, in the regional retail hub of Schererville, Ind., 25 miles southeast of Chicago. The initial phase will cost $50 million, and some anchors are scheduled to open in spring 2014.
Rendering of Shops on Main (Photo: Business Wire)
The center will be anchored by leading fashion, footwear and home furnishings retailers, including Gordmans (50,079 square feet), Ross Dress for Less (25,069 square feet), HomeGoods (23,969 square feet) and DSW Designer Shoe Warehouse (18,361 square feet). Developed in conjunction with Boyer Properties, the first phase will include two shop buildings and five pads on 28 acres of the 35-acre site.
“We appreciate the support of the town of Schererville which is a proven retail market based upon historical sales,” said Nick Wibbenmeyer, vice president and regional officer for Regency Centers. “We’re excited to become an active member of the community by helping to create jobs. Shops on Main will reflect the key attributes that define a Regency center: market-leading anchors, prime location and enjoyable shopping environment.”
Regency owns and operates 14 centers, totaling 1.8 million square feet, in the Chicago market. For leasing information, contact Rick Spector at 630-645-2817 or RickSpector@RegencyCenters.com.
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
Nick Wibbenmeyer, 630-645-2806
Vice President, Regional Officer
KEYWORDS: United States North America Indiana