Regency Centers (NYSE:REG) has announced that Kings Park Shopping Center
of Burke, VA will be getting an updated facelift, enhanced common areas
and structural expansion.
Proposed Kings Park elevations. (Photo: Business Wire)
“When Giant expressed a desire to expand their existing 28,161 SF store
to 52,000 SF, we saw the opportunity to improve the center overall and
provide long-term benefit to the community,” began Alan Roth, Senior
Vice President and Senior Market Officer for Regency Centers. “Giant
will close its store June 19th and build an expanded store to
serve the 125,000+ residents within 3 miles of Kings Park. Regency
Centers placed a keen focus on 'placemaking' by enhancing the overall
experience for the customer. As a result, residents will not only see
improvements to their shopping center with the traditional re-surface of
the parking lot and updated façade, they will be thrilled with the
warmth provided through new landscaping and the ability to mingle with
neighbors in the new outdoor hardscape patio areas.”
Kings Park, which serves as a neighborhood gathering spot for the Burke
community, sits nestled between some of the largest vehicular arteries
in the Northern Virginia region, Braddock Road, Burke Lake Road and
Rolling Road. The center, now 100% leased, serves a unique cross-section
of the population, including commuters and residents of the surrounding
neighborhoods.
“The surrounding high quality neighborhoods are so densely populated,
they deserved better,” continued Roth. “Burke currently sits around five
thousand people per square mile. We always want to make sure our
customers can get what they need without too much congestion. Now, we
are giving them a little more breathing room and allowing Giant to
expand their store and their offerings for the community.”
Anticipated timeline includes:
-
June 19th – Giant closes
-
July – commence façade enhancements
-
November – Complete common area enhancements that include parking lot
repaving, patio area and facade enhancements
-
Spring 2015 – Completion of shopping center enhancements and Giant
re-opens
To receive updates about the center, please visit (http://www.regencycenters.com/retail-space/va/burke/kings-park-shopping-center#.U581kI1dVTY).
For leasing information, please contact Brian Greene at 703-442-4331 or briangreene@regencycenters.com.
About Regency Centers Corporation
Regency is the preeminent national owner, operator, and developer of
high-quality grocery-anchored neighborhood and community shopping
centers. With 332 retail properties, the company’s portfolio encompasses
over 43.9 million square feet located in top markets throughout the
United States, including co-investment partnerships. As of May 2014,
Regency has developed 215 shopping centers since 2000, 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.
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