Regency Centers (NYSE:REG), a national owner, operator and developer of
grocery-anchored shopping centers, and a co-investment partner, have
closed on 212,000 square feet of mixed-use property in the Capitol Hill
neighborhood of Seattle. This property consists of 111,000 square feet
of retail, as well as 30 residential units, and 230 stalls of
subterranean parking.
Broadway Market has a long history on Capitol Hill, having been
developed into a plaza mall with a movie theater and residences on its
Harvard Ave E side in 1989 by local developer Val Thomas. Gold’s Gym now
occupies the former theater and most of the second floor while QFC has
occupied the plaza and former Fred Meyer spaces since 2004. Broadway
Market’s plaza and small businesses served as an unofficial cultural
center of Capitol Hill for many years.
Anchored by one of the top performing QFC locations in the 66-store
chain, this site has a long-standing history of serving the needs of the
Capitol Hill community. Other well-known Regency properties include
recently completed 90 million dollar ground-up development Grand Ridge
Plaza in Issaquah, Sammamish Highlands, and Cascade Plaza, among many
others in the greater Washington state.
“This is a tremendous addition to our Pacific Northwest platform, as we
continue to grow our business through development, redevelopment, and
acquisitions of highly productive urban and suburban grocery-anchored
and mixed-use properties,” said Craig Ramey, Senior Vice President and
Senior Market Officer for Regency Centers. “Broadway Market already
provides a densely populated community with needs that fulfill their
lifestyles, and we will make subtle but important changes to enhance
this experience and further connect with the community.”
As Washington state’s most dense market, Capitol Hill boasts nearly
28,000 residents per square mile. In 2013 alone, Seattle grew faster
than any other major American city by adding close to 18,000 residents.
Broadway Market is located within walking distance of the major
employment hubs of Downtown Seattle and just east of Amazon’s upcoming
new 3.3 million square foot global headquarters.
For more information on the site, please contact Craig Ramey at CraigRamey@regencycenters.com
or at 503-603-4726. For leasing information, please contact Kalin Berger
at KalinBerger@regencycenters.com
or at 503-603-4722.
About Regency Centers Corporation (NYSE:REG)
With more than 50 years of experience, Regency is the preeminent
national owner, operator and developer of high-quality, grocery-anchored
neighborhood and community shopping centers. The Company’s portfolio of
326 retail properties encompasses over 43.6 million square feet located
in top markets throughout the United States, including co-investment
partnerships. Regency has developed 218 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.
Copyright Business Wire 2014