Regency Changes It Up in Loudoun
Like WRIT, Regency Centers (here's the firm's DC market leader, Alan Roth) is also embarking on renovation of a big Virginia property. Regency just announced it will give its Kings Park Shopping Center in Burke a big facelift, including expanding anchor Giant from 28k SF to 52k SF. (Now they have leeway, if during a heat wave all its popcorn kernels do their thing.) Alan says the renovations will cost about $12M, and that sprucing up common areas was a big focus in the design stages to give the Loudoun County property a bigger sense of place. To that end, outdoor seating will be added.
Here's how the property looks today. Regency's been active in updating its local properties, too, as Alan tells us the Fox Mill Shopping Center in Herndon was just renovated, while work is underway at the Firstfield Shopping Center in Gaithersburg. Regency's also building Loudoun County's first Whole Foods at the Belmont Chase development in Ashburn.