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Business Journals
07-07-2025
- Business
- Business Journals
Regency Centers prioritizes strategic placemaking in the mid-Atlantic region
As 2025 continues, fundamental strength in open-air, grocery-anchored shopping centers remains a key trend within the commercial real estate landscape. In recent years, tenants and consumers alike have shown a renewed appreciation for brick-and-mortar retail. Suburbanization and hybrid work models are fueling demand for retail spaces in suburban trade areas with compelling demographics. These shopping centers, which serve as community hubs, benefit from consistent foot traffic driven by necessity-based retailers and service providers, including best-in-class grocers. Open-air retail spaces with a curated merchandising mix, incorporating both national brands and local businesses that meet community needs, have proven resilient over time. Retailers are blending physical stores with e-commerce solutions, such as curbside pickup, to enhance convenience and customer experience. Economic uncertainty has underscored the importance of disciplined capital strategies, including low leverage and targeted investments. Sustainability also remains a top priority, with investors and tenants favoring energy-efficient properties and community-focused developments. Regency's portfolio enhancement in the mid-Atlantic region is anchored by the transformation of underutilized or aging properties into vibrant, modern spaces that meet the demands of today's retail real estate market. This approach involves meticulously analyzing market trends and economic indicators and identifying high-potential areas for investment from both a development and redevelopment point of view. Westbard Square Following its acquisition of the former Westbard shopping center in 2017, Regency's Washington, D.C. team took a step back to assess the site and the community's needs. Since then, Westbard Square, a 23-acre, community-centric, mixed-use development in Bethesda, Maryland, has taken shape. A thoughtful blend of retail, office and residential, Westbard Square is a multi-phase redevelopment that, upon completion, will include 148,000 square feet of retail and office space, 100 EYA townhomes, 200 apartments, open space and a 116-unit assisted living facility. Anchored by a 65,000-square-foot Giant Food grocery store, Regency recently completed the first LEED Silver certified $37 million phase of the south building, which includes 125,800 square feet of retail and office space. expand During this time frame, Kensington Senior Living also initiated construction of a 116-unit assisted living facility on the site, with plans for completion in summer 2025. The future phases, slated to start late this year, will include the development of additional EYA townhomes as well as the north building, featuring 200 multifamily housing units and 20,000 square feet of street-level retail. Phase II will also feature a new county park with a playground as well as a separate, dedicated central green situated between the north and south buildings. Acting as the hub of activity for Westbard and the surrounding community, it's designed to encourage gatherings and serve as a venue for numerous events, features a freestanding restaurant building, and will allow for the consumption of beverages thanks to Regency's partnership with Montgomery County and its new legislation allowing for new forms of licensing. The Crossing Clarendon The Crossing Clarendon is a 419,950-square-foot shopping center anchored by Whole Foods Market and situated in the highly desirable Arlington, Virginia, market. Upon its 2016 acquisition of the 10-acre mixed-used shopping center spread across multiple city blocks, the team envisioned an opportunity to reimagine an older building that was originally constructed as a multi-level Sears department store in 1942. Through Regency's industry-leading sustainability practices, the project earned a LEED Gold certification and attracted Life Time Athletic Club, complete with a Life Time Work component — the first location within the greater Washington, D.C., and Baltimore area to contain this sought-after offering. Spanning 113,000 square feet across four floors plus lower-level space, the Life Time facility combines remote-work-friendly spaces with a world-class health club experience. The top floor, spanning 28,000 square feet, is a dedicated coworking space, while the athletic club and accompanying amenities occupy 85,000 square feet across the balance of the building. expand Anticipating how we live, not just how we shop, is the art of placemaking. Concepts like Life Time that align with how we work today, along with communal space that fosters connections for residents of all ages, play a role in creating a vibrant community at The Crossing Clarendon. Most recently, Regency embarked on the next phase of its transformation of this iconic asset, and has launched its redevelopment of the two-story Barnes and Noble building, which sits prominently at the 50-yard line of the property. This redevelopment will add multiple new food and beverage operators including a prominent brewery from Charlottesville, Virginia, and a first to market restaurant from New York City. Regency will also welcome back Barnes and Noble to the building, providing the Arlington community and its longstanding gathering hub with a fresh new design. The Loop, a centrally located communal space in the heart of The Crossing Clarendon development, is a dedicated, family-friendly spot for community connection. Tailored to all generations, the Clarendon neighborhood has embraced The Loop, which offers an array of opportunities to host events, lounge, linger and play. Similar to the structural redevelopment of The Crossing Clarendon, Regency continues to bring creative design, functionality, and sustainability together by incorporating principles from biophilic design at The Loop to increase connectivity to the natural environment. Efforts include using less paving and more verdant greenery, converting an existing drive isle into a pedestrian-only piazza, outdoor seating, innovative play structures, and more. As Regency continues to expand its presence in the mid-Atlantic, its active capital allocation strategy and transformative redevelopment projects serve as a blueprint for success in the dynamic real estate market. By staying ahead of trends, embracing innovation and fostering community engagement, Regency continues to play a pivotal role in shaping the future of real estate in the mid-Atlantic and across the country.
Newsweek
28-05-2025
- Business
- Newsweek
Miami Airport Reveals Major $600M Improvement Plans
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Miami International Airport has announced major improvement plans worth $600 million. The Miami-Dade County Board of Commissioners has approved the construction of a new concourse known as Concourse K, according to MIA officials. Why It Matters The $600 million Concourse K project is a key part of the airport's $9 billion "Future-Ready Modernization in Action" plan, which aims to accommodate rising travel demand in Miami, one of the top holiday destinations in the United States. The expansion is projected to facilitate up to 77 million annual passengers and 5 million tons of cargo by 2040. It will be MIA's first terminal expansion in nearly two decades. In 2024, the airport processed a record 56 million passengers and over 3 million tons of cargo. What To Know The new Concourse K, which will be built at MIA's South Terminal, was designed to address growing demand and outdated infrastructure. The concourse will feature six new contactless gates, two baggage make-up carousels, a ground support equipment maintenance facility, an updated aircraft apron equipped with a jet fuel hydrant system, and modifications that directly connect the Central and South Terminals for enhanced baggage handling. Renderings of Concourse K at Miami International Airport. Renderings of Concourse K at Miami International Airport. Miami International Airport Building firm Lemartec-NV2A JV, LLC, was selected as the project's general contractor, while Miami-based Perez & Perez Architects Planners will serve as the lead architect. The project is targeting LEED Silver certification, indicating a focus on sustainability and energy efficiency. The Miami-Dade County Board of County Commissioners approved the $600 million contract after reviewing competing bids. After notice to proceed, construction is expected to last approximately four years, with project completion scheduled for spring 2029. This schedule aligns with planned enhancements across the airport, including the modernization of the Central Terminal and improvements to passenger flow for international arrivals. What People Are Saying Miami-Dade County Mayor Daniella Levine Cava, in a press release: "MIA has not seen a terminal expansion since 2007, making this a truly transformative milestone for our airport. The launch of Concourse K will not only increase capacity and create thousands of new jobs, but also reinforce MIA's role as a premier global gateway. "With the unwavering support of the Board of County Commissioners and the dedication of Director Ralph Cutie, his team, and our airport partners, we are making visionary, future-ready investments that will build a stronger, more vibrant airport—one that uplifts our community, welcomes the world, and powers our economy into the future." What Happens Next Construction of Concourse K is scheduled to begin in summer 2025 and is expected to be completed by spring 2029.
Business Wire
28-05-2025
- Business
- Business Wire
Metro Schools, Ohio State and Battelle Celebrate Restored Metro@Indianola Campus, Enrollment Up 40 Percent
COLUMBUS, Ohio--(BUSINESS WIRE)--At an official grand opening ceremony today, leaders from Metro Schools, The Ohio State University, Battelle and other key partners will open the doors of the historic Indianola Middle School—now the Metro@Indianola campus. The event will celebrate the completion of a top-to-bottom restoration that brought the 1929 landmark up to LEED Silver sustainability standards. The building at 420 E. 19th Avenue now houses 40 flexible classrooms and a community health clinic. Combined with Metro's plan to convert its original Kenny Road location into a dedicated elementary school, Metro will serve 40 percent more students this fall. 'Today, we move from blueprints to bright futures,' said Meka Pace, superintendent of Metro Schools. 'All Central Ohio kids deserve world-class STEM opportunities right in their own neighborhood and, after today, many more will have that opportunity.' Under a 30-year, no-cost lease, Ohio State owns the 9.38-acre property while Metro operates the school. The project was funded by the Ohio Facilities Construction Commission at $15 million, Battelle at $13.5 million, and other community donors. 'Metro@Indianola is a shining example of what's possible when partners across the community come together around a shared vision to invest in students and the future of our state,' said Walter 'Ted' Carter Jr., president of The Ohio State University. 'After today, Metro@Indianola will be able to do even more to prepare a strong pipeline of STEM talent for Ohio's workforce. Ohio State is proud to be a partner in Metro Schools' success story and we look forward to this new chapter of growth.' Metro's expansion is part of Battelle's philanthropic mission grow STEM educational opportunities. Metro opened in 2006 as one of Ohio's first STEM schools through a partnership with Ohio State, Battelle and local schools. Students from across the region apply to join the diverse, tuition-free school. Fully 80 percent of Metro students in the Class of 2025 earned college credit before graduation. 'Battelle is proud to be a co-founder of the Metro School with Ohio State and steadfast in our support of a model that delivers life-changing opportunities for the school's students,' said Lou Von Thaer, President and CEO of Battelle. 'This renovation allows more students to benefit from a STEM education and shape the future of our region.' The building was designed by famed architect Howard Dwight Smith and its alumni include celebrated author Wil Haygood and the late Curt Moody, founder of America's largest Black-led architectural firm. In 1980, the U.S. Department of the Interior listed the building on the National Register of Historic Places. About Battelle Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit or contact Katy Delaney at (614) 424-7208 or delaneyk@
Yahoo
28-05-2025
- Business
- Yahoo
Metro Schools, Ohio State and Battelle Celebrate Restored Metro@Indianola Campus, Enrollment Up 40 Percent
COLUMBUS, Ohio, May 28, 2025--(BUSINESS WIRE)--At an official grand opening ceremony today, leaders from Metro Schools, The Ohio State University, Battelle and other key partners will open the doors of the historic Indianola Middle School—now the Metro@Indianola campus. The event will celebrate the completion of a top-to-bottom restoration that brought the 1929 landmark up to LEED Silver sustainability standards. The building at 420 E. 19th Avenue now houses 40 flexible classrooms and a community health clinic. Combined with Metro's plan to convert its original Kenny Road location into a dedicated elementary school, Metro will serve 40 percent more students this fall. "Today, we move from blueprints to bright futures," said Meka Pace, superintendent of Metro Schools. "All Central Ohio kids deserve world-class STEM opportunities right in their own neighborhood and, after today, many more will have that opportunity." Under a 30-year, no-cost lease, Ohio State owns the 9.38-acre property while Metro operates the school. The project was funded by the Ohio Facilities Construction Commission at $15 million, Battelle at $13.5 million, and other community donors. "Metro@Indianola is a shining example of what's possible when partners across the community come together around a shared vision to invest in students and the future of our state," said Walter "Ted" Carter Jr., president of The Ohio State University. "After today, Metro@Indianola will be able to do even more to prepare a strong pipeline of STEM talent for Ohio's workforce. Ohio State is proud to be a partner in Metro Schools' success story and we look forward to this new chapter of growth." Metro's expansion is part of Battelle's philanthropic mission grow STEM educational opportunities. Metro opened in 2006 as one of Ohio's first STEM schools through a partnership with Ohio State, Battelle and local schools. Students from across the region apply to join the diverse, tuition-free school. Fully 80 percent of Metro students in the Class of 2025 earned college credit before graduation. "Battelle is proud to be a co-founder of the Metro School with Ohio State and steadfast in our support of a model that delivers life-changing opportunities for the school's students," said Lou Von Thaer, President and CEO of Battelle. "This renovation allows more students to benefit from a STEM education and shape the future of our region." The building was designed by famed architect Howard Dwight Smith and its alumni include celebrated author Wil Haygood and the late Curt Moody, founder of America's largest Black-led architectural firm. In 1980, the U.S. Department of the Interior listed the building on the National Register of Historic Places. About Battelle Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit or contact Katy Delaney at (614) 424-7208 or delaneyk@ View source version on Contacts Katy Delaney(614) 424-7208delaneyk@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
15-05-2025
- Business
- Miami Herald
Bakers Place Apartments Now Leasing in Downtown Madison, WI
206 New Apartments in Downtown Madison Offering Wellness Amenities. MADISON, WISCONSIN / ACCESS Newswire / May 15, 2025 / Neutral, a Madison-based real estate developer, is excited to announce the launch of leasing at Bakers Place. With 206 high-quality, market-rate apartments now available, move-ins are beginning in May. Hines will be managing the property. The project brings 206 high-quality market-rate apartments to downtown Madison, WI within walking distance to the State Capitol, office district, and UW-Madison. Bakers Place will feature state-of-the-art amenities including: a gym with cutting-edge equipment developed in partnership with PKFit and a contrast therapy room; resident library; coworking spaces; terraces with communal gardens, views of the lakes, and grill stations. Smart home locks and package delivery notifications, parking garage with EV charging. Pet wash. A primary care health studio. On-site concierge and community manager. And organic food delivery from local farmers. The apartments feature exposed timber ceilings, high-end finishes, and flexible floorplans ranging from studios to three-bedroom homes. The building was built with the use of sustainable materials like mass timber and is pursuing LEED Silver certification. On the ground floor, Copa Vida, a Californian coffee roaster and café chain, will open its first-ever location outside California, along with an organic shop. The Neutral development team is led by CEO Nate Helbach and CPO Daniel Glaessl "Neutral is thrilled to introduce Bakers Place to downtown Madison. This flagship project embodies our vision for sustainable and healthy living. We've designed a space where you can thrive, featuring a primary care clinic, a fully equipped performance lab, a gym, an organic café, and dedicated areas to study and unwind. Our personalized wellness and fitness programs are tailored to fit your unique lifestyle." said Helbach About Neutral Neutral is a vertically integrated real estate developer building ground-up market-rate multifamily assets in the Midwest region. Neutral has gained global acclaim as one of the leaders in real estate focused on sustainability, resident health, and well-being. Neutral buildings use mass timber and meet the industry's most rigorous sustainability certifications, including Passive House, Living Building Challenge, LEED, and Energy Star. In addition to Bakers Place, Neutral is developing 517 W Main St in Madison, WI, featuring 33 residential units, and Neutral 1005 N Edison St in Milwaukee, WI, with 378 units - the tallest mass timber building in the country. Neutral, headquartered in Madison, was founded in 2020 by Nate Helbach and Matt Frazer. For more information, visit About Hines Hines is a leading global real estate investment manager. We own and operate $90.1 billion of assets (includes both the global Hines organization and RIA AUM as of December 31, 2024) across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 68-year history to build the world forward by investing in, developing, and managing some of the world's best real estate. To learn more, visit Contact Information Daniel Glaessl Partner and Chief Product Officerdg@ SOURCE: Neutral press release
