Regency Center to launch 81,000-sq.-ft. ground-up development
Medford, Ore. -- Jacksonville, Fla.-based Regency Centers announced the construction of Northgate Marketplace, an 80,900-sq.-ft. neighborhood center anchored by new-to-the-market anchors REI and Trader Joe’s.
The grocery-anchored center is located in the regional retail hub of Medford, Ore. In partnership with Northgate, Regency Centers is developing the first phase of its first shopping center in Medford which will create more than 250 permanent jobs.
Specialty grocer Trader Joe’s will open a 13,000-sq.-ft. store, and REI will occupy 23,500 sq. ft. The nearest location for both retailers is 118 miles. Junior anchors include Petco in a 12,500-sq.-ft. space and Ulta with a 10,000-sq.-ft. space.
Northgate Marketplace is a phased retail development which will encompass 417,000 sq. ft. on 40 acres. The first phase includes the 80,900-sq.-ft. center which is 75% preleased and will begin construction immediately with anchor openings scheduled for third quarter of 2012.