Thalhimer Realty Partners and The Rebkee Company Team Up to Purchase Regency Square Mall
RICHMOND, VIRGINIA: Thalhimer Realty Partners Inc., and The Rebkee Company, have teamed up to acquire Regency Square Mall, a 450,000-square foot enclosed mall that is part of a 820,000-square foot retail center strategically located on 50+/- acres originally built in 1975. The new ownership team for the property will be reaching out over the coming months to the community and the retail market place to develop a plan to revitalize one of Richmond’s most important commercial retail properties.
“Regency Mall will be a challenge to reposition in an already crowded retail environment, but due to its superior location, and with the help of Henrico County, our ownership team is up to the task“, stated Rob Hargett, Partner, The Rebkee Company. Mark Slusher, Senior Vice President of Thalhimer Realty Partners, Inc. added, “Regency Square and the community it serves still have all the elements that make it a wonderful retail destination. It simply needs the energy and expertise of strong local ownership to explore how it can become an even better retail and entertainment experience.” It won’t happen overnight, but we are excited about the opportunities it presents for Henrico County and the entire Richmond community.”
Well-located between River Road and I-64 on the Parham Road/Route 150 corridor in western Henrico County, the property continues to enjoy strong demographics, is anchored by Macy’s, J.C. Penney, Sears, and Forever 21, and includes other popular national retailers such as Sephora, Charming Charlie, Victoria’s Secret, and many others.
The new ownership group has engaged Cushman & Wakefield | Thalhimer as exclusive leasing representative and property manager. Lee Warfield, President of Thalhimer stated, “Thalhimer is excited to take on the challenge of executing the development and leasing plan created by the new ownership team. Our goal is to bring new retailers to the Mall that will greatly enhance the shopping experience of its customers.” Connie Jordan Nielsen, Senior Vice President at Cushman & Wakefield | Thalhimer will be leading the Mall’s leasing program. “Our team is elated to have the opportunity to work with the new ownership and the community to reclaim Regency Square’s position as one of the preeminent retail locations in Richmond.”Written on February 3, 2015