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Lehigh Retail Inks 64,000 SF in New Leases

LOWER NAZARETH TOWNSHIP, PA-Regency Centers is bringing its $30-million project to full occupancy with leases from PetSmart and a sporting goods store.

By Erika Morphy | Updated on February 11, 2008

LOWER NAZARETH TOWNSHIP, PA-Recency Centers is in the process of closing two leases for a $30-million retail project it will begin building here in the spring, according to Powell Arms, Regency Centers’ VP of investments. The two leases–a 22,000-sf lease for PetSmart and a 42,000-sf lease for a sporting goods store, which Arms declined to name–will bring the 238,984-sf development to close to full occupancy, he tells GlobeSt.com.

The retail center will be located in the Lower Nazareth Commons shopping center. It will include a 133,000-sf Target next to an existing, non-Regency owned Wegmans supermarket, as Regency Centers recently revealed. The remaining available space includes two to three sit-down restaurant outparcels and two bank parcels, Arms says. “We are working on leasing those now.” There is also 20,000 sf available for small shops and retailers. Arms declined to give asking rates for the available space, citing a wide range of rates depending on the space. “We envision opening the entire center by mid-summer ’09.”

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