Regency Centers' Ellis Village Center Builds On Bay Area Momentum
In Q4 2026, Regency Centers is scheduled to break ground on the North phase of Ellis Village Center, its 49K SF outdoor retail destination in Tracy, California.
Anchored by a 23K SF specialty grocery store, Sprouts Farmers Market, and adjacent to the upscale Ellis master-planned community under development, the project marks the next chapter in Regency’s expanding presence across the Bay Area, said Craig Ramey, development partner at Regency Centers.
“Tracy has the demographics, the residential momentum and a genuine need for quality retail,” Ramey said. “When all of those things align with the right anchor partner, you have the conditions for a center that serves the community for decades.”
Construction on Ellis Village Center’s South phase is scheduled for completion in the second half of 2026.
“Now, momentum for the North phase is building,” said Jennifer Hess, senior leasing agent at Regency Centers.
With the South phase fully committed as of January 2026, signed leases in place for the North phase include KinderCare, CaliKid Burgers and Desi Circle.
“Leasing traction can be attributed to the same dynamic that filled the South phase: strong residential growth, limited competing retail and demand from tenants seeking well-positioned suburban locations,” Hess said.
Project stabilization is expected in 2028.
“Regency’s ground-up development capabilities are a recognized differentiator in the retail industry,” Ramey said. “We’ve started more than $800M in development and redevelopment projects over the last three years, supported by relationships with leading grocers, access to capital and experienced teams operating in target trade areas.”
Ellis Village Center, as well as the company’s future pipeline of projects, reflects the Regency platform at work in a market where the fundamentals point toward long-term value, he added.
About The Property
Located at Corral Hollow Road and Ellis Town Drive, Ellis Village Center’s direct access to Interstates 580 and 205 provides a built-in residential base and access to regional traffic.
The South phase, which broke ground in 2025, will enter its opening year 100% leased, Ramey said. The tenant lineup balances health-oriented grocery, fast-casual dining, personal services and financial resources — a mix calibrated for daily needs and repeat visits, he said.
“Ellis Village reflects everything Regency does well,” Ramey said. “We invest time to understand the market and build the relationships that make a project like this possible.”
About The Community
Tracy is growing, but the area’s retail infrastructure has lagged behind the town’s robust residential development.
The trade area surrounding Ellis Village Center has more than 10,000 new homes planned. Within a 3-mile radius, the community already supports a population of approximately 69,000, which is projected to reach 72,000 by 2029.
“Ellis Village Center was purpose-built to close the retail gap, providing a grocery-anchored destination that meets everyday needs while creating the kind of walkable, community-serving environment that supports dwell time and repeat visits,” Ramey said.
The project follows and aims to replicate the success of another Regency ground-up development in the East Bay community of Oakley, he added.
Oakley Shops at Laurel Fields, completed in 2026 at a total project cost of $36M, delivered a 78K SF center anchored by Safeway to a market where access to high-quality grocery-anchored retail had been previously limited.
“Together, the two projects reflect a deliberate and sequenced strategy: Identify underserved suburban markets with strong residential growth, build the right anchor relationships and execute with precision,” Ramey said.
Property Highlights
Ellis Village Center North
- 29K SF open-air center
- Signed tenants: KinderCare, CaliKid Burgers, Best Brains Learning Center, Desi Circle
- North phase groundbreaking targeted for Q4 2026
- Additional leases in process; few spaces remaining
- Two drive-thru restaurant locations and dedicated outdoor dining areas
Ellis Village Center South
- 50K SF open-air center, anchored by Sprouts Farmers Market
- 100% leased as of Q1 2026
- Signed tenants: Sprouts Farmers Market, BMO Bank, Pacific Dental, Paris Baguette, NT Nails, Chipotle Drive-Thru, Pho Island, Wingstop, Slice House, Chocolate Fish Coffee Roasters, Pokemoto Boba, Firehouse Subs, Great Clips
- Phase 1 openings targeted for second half of 2026
- Direct access to Interstate 580 and Interstate 205
Leasing Opportunities
Ellis Village North opportunities include retail, restaurant and personal service, including two drive-thru restaurant locations and dedicated outdoor dining areas. Ellis Village South is fully committed.
Leasing Contact
Jennifer Hess — jenniferhess@regencycenters.com | 925-279-1885
This article was produced in collaboration between Regency Centers and Studio B. Bisnow news staff was not involved in the production of this content.
Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.
