LOS ANGELES--(BUSINESS WIRE)--Regency Centers Corporation (NYSE:REG), a national owner, operator and developer of grocery-anchored community shopping centers, has announced the opening of a new development in South Los Angeles. Anchoring Juanita Tate Marketplace is leading Hispanic grocer Northgate Gonzalez Market in a 42,000 square foot space. The grand opening will be held on April 14th at 10:00 a.m. PST, and will feature a ribbon cutting ceremony to commemorate the introduction of Northgate to the surrounding area.
“This was a development fifteen years in the making,” states John Mehigan, Vice President of Investments and Regional Officer. “We have a strong commitment to the Los Angeles market, and we knew this project was something special. This center brings jobs, new food options, healthy food options, daily service needs, and nationally recognized names to the community. Juanita Tate Marketplace is a great example of Regency’s commitment to development and ability to transform neighborhoods.”
Before it became Juanita Tate Marketplace, the land off of East Slauson Ave was a used-car lot that was occupying one of the prime plots of real estate in the area. Partnering with the city of Los Angeles, Regency spent 18 months remediating before starting construction in May of 2013.
“Regency always knew that the site had so much potential, and over the years the vision for Juanita Tate really began to take shape,” continued John. “Not only are we completing a center that we have had in our development pipeline, but we spent a lot of time designing a center that looks great and will function well long term. This unique design and its ‘main-and-main’ location allowed us to attract a unique group of retailers and restaurants that will serve this community for years to come.”
Development of the 6½-acre infill location, which began from the ground-up in May 2013, was made possible by the Concerned Citizens of South Central Los Angeles (CCSCLA), who sourced the opportunity in the early 1990’s. CCSCLA – which focuses on issues such as affordable housing, banking, land use and recycling in the local area – sought a development partner to build a neighborhood retail center near its headquarters. That vision has now become a reality thanks to a joint partnership with Regency Centers. As a part of the agreement, the center will lease a 1,000 square foot space to CCSCLA for the purpose of operating an adult educational training center for the community. The center is named for the late Juanita Tate, a community activist who was involved with the CCSCLA, and who advocated for green space for citizens of South Los Angeles. It is estimated that the center will create close to 200 new jobs.
Located at the Southwest corner of busy intersection of Slauson and Central Avenues, Juanita Tate Marketplace is experiencing high demand for retail space. In addition to CCSCLA and Northgate Market, several tenants are opening locations within the center, including CVS/Pharmacy, Fatburger, Waba Grill, Little Caesars, Panda Express, Premier Dental, Starbucks, Yogurtland and Wing Stop among others. Tenants are not only pleased with the location’s dense market population and easy access to the 110 freeway, but also the sustainable elements of the development, which include LEED Silver certification for both core and shell design.
For leasing or more information about Juanita Tate Marketplace or other Regency properties in the Los Angeles market, contact leasing agent Aaron Keswick at 213-553-2252 or AaronKeswick@RegencyCenters.com.
About Regency Centers Corporation (NYSE:REG)
Regency is the preeminent national owner, operator and developer of high-quality grocery-anchored and community shopping centers. As of Dec. 31, 2013, the company owned 328 retail properties, including those held in co-investment partnerships. Including retailer-owned square footage, the portfolio encompassed 43.3 million square feet located in top markets throughout the United States. Since 2000, Regency has developed 214 shopping centers, including those currently in process, representing an investment at completion of more than $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.