CHANTILLY, VA–In recent years developers and brokers focusing on Northern Virginia's Chantilly submarket were thrilled to note that Wegmans had opened its doors in the area. It was a sign, it was said, that the market was not only recovering but on its way to morphing into the much-ballyhooed live-work-place model.
Such sentiment has been music to Regency Centers' ears, the Jacksonville, Fla.-based REIT behind these projects. Now it is adding another Wegmans to the mix to anchor its 180,000-square foot Field at Commonwealth. Wegmans will take 120,000 square feet of the $44.5 million development.
Regency Centers rezoned the site for retail, including a Wegmans, some two years ago. It was originally slated to open this year. Construction has now begun, with an estimated 2018 completion, according to the REIT.
The Field at Commonwealth, part of Regency Center's Commonwealth Centre which also has residential and office properties, will be located at the intersection of US-28 and Westfields Boulevard.
CHANTILLY, VA–In recent years developers and brokers focusing on Northern
Such sentiment has been music to Regency Centers' ears, the Jacksonville, Fla.-based REIT behind these projects. Now it is adding another Wegmans to the mix to anchor its 180,000-square foot Field at Commonwealth. Wegmans will take 120,000 square feet of the $44.5 million development.
Regency Centers rezoned the site for retail, including a Wegmans, some two years ago. It was originally slated to open this year. Construction has now begun, with an estimated 2018 completion, according to the REIT.
The Field at Commonwealth, part of Regency Center's Commonwealth Centre which also has residential and office properties, will be located at the intersection of US-28 and Westfields Boulevard.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
