Torrance, CA – January 25, 2011 – (RealEstateRama) — Regency Centers (www.regencycenters.com), a national owner, operator and developer of grocery-anchored and community shopping centers, has signed a lease and begun construction on a new Toys “R” Us/Babies “R” Us store at Indio Towne Center in Indio, Calif.
The 46,827-square foot location will replace the retailer’s store in Palm Desert and become its only location in Southern California’s Coachella Valley.
Both parties were represented by Bill Bauman, Bryan Norcott and Lee Clay Park with Studley, Inc.
“Toys “R” Us/Babies “R” Us will do well here with the changing demographics and a heavy concentration of families in Indio,” said Regency Centers vice president Gregg Sadowsky, who noted that Regency will construct a turnkey, build-to-suit box for the store.
“Located 30 miles east from Palm Springs, Calif., Indio Towne Center serves as part of a major retail hub in East Coachella Valley,” notes Sadowsky. “In the past, this area has been underserved for shopping and entertainment. Before 2007, many residents traveled to La Quinta and Palm Desert to dine and shop. Residents had asked the City for new retail and the City Council responded as quickly as possible.”
The addition of Toys “R” Us/Babies “R” Us, slated to open in Fall 2011, will bring Indio Towne Center to 425,330 square feet. The center also features a 94,642-square-foot WinCo Foods, the grocer’s only location in the Coachella Valley. Other top retailers include a 141,192-square-foot Home Depot, plus other national retailers such as CVS/pharmacy, PETCO, 24 Hour Fitness, Panda Express, Subway, Taco Bell, McDonald’s and KFC. The center is located at Interstate 10 and Jackson Street. For leasing information, contact Omar Hussein at (858) 847-4622.
Toys “R” Us, Inc., is the world’s leading dedicated toy and baby products retailer. The company currently sells merchandise in more than 1,550 stores, including 849 Toys “R” Us and Babies “R” Us stores in the U.S., and more than 700 international stores in 33 countries.
About Regency Centers
Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. As of September 30, 2010, the Company owned 399 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 53.1 million square feet located in top markets throughout the United States. Since 2000, Regency has developed 201 shopping centers, including those currently in-process, representing an investment at completion of $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.