Traffic flow and pedestrian-friendly improvements, architectural updates, increased square footage and eco-friendly enhancements to benefit the Clairemont Mesa community
Regency Centers Corporation (NYSE:REG), a national owner, operator and developer of grocery-anchored and community shopping centers, will begin construction next week on the first phase of renovating Balboa Mesa Shopping Center. The 189,321-square-foot infill shopping center is anchored by Kohl’s, Vons and CVS/pharmacy and was acquired by Regency last August. The renovation is scheduled for completion in summer 2014.
The first phase will include the addition of an outdoor plaza and eating area at the highly visible corner of Balboa Avenue and Genesee Avenue. Additionally, interior retail buildings will be updated with a fresh color palette and stone accents. The Balboa Avenue entrance will be reconfigured, new pedestrian pathways will be installed and 149 parking spaces added to improve access and traffic flow within the center. Upgraded signage and landscaping will further improve the center’s appearance.
“As an established, long-term property owner in San Diego, Regency’s vision, since acquiring the property late last year, was to enhance the appearance, retail options and consumer experience at this vibrant neighborhood center,” said Gregg Sadowsky, senior market officer for Regency Centers.
As part of Regency’s greengenuity® program to reduce the environmental impact of developing and operating shopping centers, the Balboa Mesa Shopping Center will incorporate a number of sustainable elements such as replacement of all parking lot lighting with high-efficiency LED fixtures and programmable dimmers to minimize energy use. In addition, over 9,000 square feet of landscaped storm water treatment, including new bioswales, will be installed. With these improvements, Regency will seek LEED® certification for the center.
Built in 1969, Balboa Mesa Shopping Center is anchored by Kohl’s and Vons alongside retailers such as CVS/pharmacy, U.S. Bank and O’Reilly Auto Parts. The center is located at the southeast corner of Balboa Avenue and Genesee Avenue in San Diego. For leasing information, contact Eric Li at 858.847.4600.
Regency owns and operates 11 retail centers, totaling 1.9 million square feet, in the San Diego market. The properties are managed by a nine-member team with an office in San Diego County.