Regency to Build Connecticut Shopping Center

February 27, 2024

Whole Foods Market will anchor the 154,000-square-foot development.

Regency Centers Corp. plans to develop Cheshire Crossing, a 154,000-square-foot shopping center in Cheshire, Conn. The retail property will rise on a 17.4-acre parcel the firm recently acquired within Stone Bridge Crossing, a 107-acre master-planned community that will comprise 300 multifamily units, 140 townhomes and carriage houses and a 125-key hotel at full buildout.

Anchored by Whole Foods Market, Cheshire Crossing will also feature a 23,000-square-foot TJMaxx, an additional 18,000 square feet of junior anchor space, 38,000 square feet of inline shops and five outparcels.

Construction of the shopping center’s anchor tenants space is expected to be completed by the end of this year, while the entire project’s delivery is set for 2025.

The City’s Planning and Zoning Commission approved the retail portion of the master-planned community, also known as Lot 5, in late 2023. Miller, Napolitano, Wolff LLC and Tri-Star Development are the project’s developers.

Located next to the major thoroughfare arteries for the region at the intersection of Interstate 691 and Highland Avenue, the Cheshire Crossing development will serve Cheshire and several nearby towns as well.

A nationwide portfolio of mostly grocery-anchored centers

Regency currently owns more than 480 centers nationwide encompassing in excess of 60 million square feet of retail space. Of the total, 80 percent of the properties are grocery-anchored.

Last year, the joint venture between Regency and Blumenfeld Development Group started the redevelopment of an 18-acre, 282,223-square-foot shopping mall in Holbrook, N.Y. The partnership plans to replace the vacant property with an open-air, 168,000-square-foot retail center anchored by Whole Foods Market.

The retail market had its share of inventory growth last year. According to Colliers research, some 55 million square feet of retail space were under construction across the U.S. in 2023, with 10 million square feet having been delivered each quarter.