WASHINGTON--(BUSINESS WIRE)--Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG), a national owner, operator, and developer of grocery-anchored shopping centers, has announced a new ground-up development in Chantilly, Virginia. The Field at Commonwealth, with estimated net development costs of $44.5 million, will occupy nearly 180,000 square-feet of exceptional retail, anchored by a 120,000 square-foot Wegmans Food Market. Construction of the development has begun, with an estimated 2018 completion.
“The Field at Commonwealth is going to transform the Chantilly and Westfields area into a vibrant retail corridor in Northern Virginia,” said Devin Corini, Vice President of Investments for Regency Centers. “The importance of bringing the dominant gourmet grocer in the Washington, D.C. market to the project cannot be overstated. The unrivaled product offering and shopping experience that Wegmans is known for will serve the surrounding community well.”
Strategically located at the intersection of US-28 and Westfields Boulevard, The Field at Commonwealth will be the dominant retail destination for the surrounding class-A office market as well as encompassed by affluent residential neighborhoods. Along with its proximity to Dulles Airport and strong private/public presence of governmental employers, this project benefits from a uniquely strategic location in the greater D.C. metro area.
Commensurate with Regency’s nationally recognized sustainability efforts, The Field at Commonwealth will seek LEED Certification by capitalizing on its semi-urban infill location, with a combination of high-performance building design and environmentally friendly construction practices.
For leasing inquiries, please contact Brian Greene at BrianGreene@RegencyCenters.com, or 703-442-4331.
About Regency Centers Corporation (NYSE: REG)
Regency is the preeminent national owner, operator and developer of neighborhood and community shopping centers. The Company’s portfolio of 429 retail properties encompasses more than 57 million square feet, is primarily anchored by productive grocers and is located in affluent and infill trade areas in the country’s most attractive metro areas. Regency has developed 225 shopping centers since 2000, representing an investment at completion of more than $3.5 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed, and a member of the S&P 500 index.