Regency Square

Regency Square
Regency Square entrance, April 2013
Location Richmond, Virginia, United States
Address 1420 Parham Road
Opening date 1975
Developer Leonard Farber
Management Cushman and Wakefield Thalhimer
Owner Thalhimer, Rebkee Co
No. of stores and services 60+
No. of anchor tenants 4 (2 open, 2 vacant)
Total retail floor area 820,000 square feet (76,180.5 m2)[1]
No. of floors 2
Parking Covered and parking decks
Website www.shopregencysqmall.com/

Regency Square is an enclosed shopping mall in Richmond, Virginia, United States. Opened in 1975, the mall features a food court and more than 60 tenants, including JCPenney and Forever 21. Macy's, which had two locations at Regency Square, closed in Spring 2016, and Sears closed in Summer 2017.

History

Regency Square opened in 1975. It was developed by Leonard Farber of Pompano Beach, FL [2] in conjunction with local developer E. Carlton Wilton.

At the mall's opening, anchor stores included JCPenney, Sears, Miller & Rhoads and Thalhimer's. Besides the addition of a food court in 1987, the mall remained largely unchanged.[3] After Miller & Rhoads closed in 1990, Hecht's bought the location, along with three other former Miller & Rhoads stores in Virginia, and converted it to a Hecht's.[4] Two years later, the Thalhimer's chain was also acquired by Hecht's, and as a result, the Thalhimer's became a second Hecht's location.

In 1991, Wilton sold the mall to Prudential. Taubman Centers then acquired the Regency Square mall in 1997.[5] A children's play place was added in 2003.[3]

In January 2012, Taubman returned the mall to its mortgage lender to avoid foreclosure on the property.[6] The lender hired Jones Lang LaSalle for management of the property.

In February 2015, Thalhimer Realty Partners and The Rebkee Company, both local companies, bought Regency for 13.1 million. The new owners plan to revitalize the mall while keeping it focused on retail.[7]

In 2016, Macy's closed both of its stores at Regency Square as part of a nationwide closing of 40 stores.[8]

In September 2017, Sears closed its store at Regency Square as part of a nationwide closing of 16 stores. This left JCPenney as the mall's only original anchor.[9]

The same month, an overpass over one of the mall's entrances was demolished[10], starting work on a 30 million dollar renovation of the mall. It will remove the parking deck on the second story of the mall, making its parking space completely level. Regal Cinemas will move into the old Macy's spaces as well.[11]

Competition with other malls

Regency Square faced additional retail competition in 2003, when two other malls opened nearby: Short Pump Town Center and Stony Point Fashion Park, the latter also a Taubman property.[12]

References

  1. ↑ "Leasing information". Taubman Centers. Archived from the original on 2008-12-26. Retrieved 2008-11-03.
  2. ↑ http://richmondmagazine.com/news/the-hat/regency-square-sculpture/
  3. 1 2 http://www.accessmylibrary.com/coms2/summary_0286-8865008_ITM
  4. ↑ http://www.highbeam.com/doc/1G1-8194004.html
  5. ↑ http://www.highbeam.com/doc/1G1-19722268.html
  6. ↑ http://www.costar.com/News/Article/Taubman-Transfers-Regency-Square-to-the-Mortgage-Lender/134892
  7. ↑ http://www.richmond.com/business/local/article_d3fce4f7-40eb-58fb-a4be-4b6ecc54999d.html
  8. ↑ http://www.richmond.com/business/macy-s-closing-three-stores-in-richmond---at/article_65260ce0-cb44-5a82-9e9d-630439f2fc0d.html
  9. ↑ http://www.richmond.com/business/local/sears-to-close-regency-square-store-in-henrico-county/article_67517bfc-eb0c-5a17-b101-d34cd71a6694.html
  10. ↑ http://wric.com/2017/09/12/bulldozers-dig-in-for-regency-square-revamp/
  11. ↑ http://wric.com/2017/06/12/regency-square-mall-getting-facelift-new-anchor/
  12. ↑ Gilligan, Gregory J. (2003-09-03). "Richmond, Va., Developer Sees Massive Retail Center Idea to Completion". Retrieved 2008-11-03.

Coordinates: 37°36′05″N 77°34′04″W / 37.601345°N 77.567726°W / 37.601345; -77.567726

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