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Regency Forges Ahead with New Centers

JACKSONVILLE, FL-The grocery-anchored retail developer has $1.1 billion invested in 48 projects.

By Carl Cronan | Updated on May 07, 2008

(Carl Cronan is editor of Real EstateFlorida.)

JACKSONVILLE, FL-Regency Centers Corp. is forging ahead with development plans in spite of the prospect of losing some retail tenants to the economic downturn. The national owner and operator of grocery-anchored shopping centers says it has 48 projects under development, representing an estimated investment of $1.1 billion.

The company says it is nearing completion of its 318,000-sf Shops at Stonewall community shopping center in Gainesville, VA, nearly a year after acquiring 37 acres at Lee Highway and Old Carolina Road. Wegmans Food Markets Inc. will anchor the center with a 140,000-sf store, marking only the third Virginia location for the Rochester, NY-based upscale grocer.

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