Regency Centers (NYSE: REG
) has begun construction of Southpark at Cinco Ranch, a 260,000-square-foot neighborhood shopping center anchored by grocer Kroger, in Fort Bend County, TX, 32 miles west of downtown Houston.
The center is located at the intersection of two arterial roads, Westpark Tollway, the east/west connection to downtown Houston; and Spring Green Boulevard, which will connect Westpark Tollway to Interstate 10. Regency Centers began construction in partnership with Excel Commercial Real Estate
LLC on Feb. 20. Anchor openings are scheduled for the fourth quarter of 2012.
Regency, a national owner, operator and developer of grocery-anchored and community shopping centers, is building the first anchored retail development west of Grand Parkway within Cinco Ranch, one of the nation’s fastest growing master planned communities. Regency owns and or manages 12 properties in Houston totaling 1.7 million square feet.
Southpark's first phase will include a 101,497-square-foot Kroger and fuel center, which will create 275 new jobs; a 71,680-square-foot Houston-based sporting goods retailer; and 29,920 square feet of small shops and seven outparcels. The center is 72% preleased and will add an additional 57,000 square feet in the second phase.
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