RALEIGH, N.C.--(BUSINESS WIRE)--Regency Centers Corporation (“Regency” or the “Company”) (NYSE:REG), a national owner, operator, and developer of grocery-anchored shopping centers has acquired approximately 22 acres in the Midtown neighborhood of Raleigh, NC.
The project, named “Midtown East,” will feature a 170,000 square-feet shopping center including a Wegmans grocery store and 54,000 square feet of additional retail. The Wegmans at Midtown East is currently scheduled to be the first store in the grocery’s chain to open in the state of North Carolina. The project is scheduled to open during the summer of 2019.
“Having the first Wegmans to open in North Carolina will set Midtown East apart. Customers will drive from every part of the Triangle to discover Wegmans’ European Food Hall experience,” said Chris Widmayer, Vice President of Investments at Regency Centers. “They will return to enjoy the experience we are creating and amazing retailers we are attracting at Midtown East.”
The center is strategically located at the regional intersection of Wake Forest Road and I-440, and features easy access to North Raleigh, Midtown, and Downtown. The regional sub-market is already home to Costco and Trader Joe’s.
Midtown East is a joint venture between Regency Centers and ITB Holdings, LLC, a group of local investors.
About Regency Centers Corporation (NYSE:REG)
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit regencycenters.com.