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Regency Square Mall up for "short sale"

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Updated: 8/14/2013 7:55 pm
JACKSONVILLE, Fla.-- In its heyday, there was no better mall in the River City. In fact, according to an Urban Land Institute Study, Regency was one of the most profitable shopping centers in the country back in the 70s.

"When you say Jacksonville, you automatically think of Regency," shopper Barbara Repass said.

Now, storefronts sit empty, and statistically crime is a growing problem.
Just two years ago, there was a shootout in the food court. In 2004, there were more than 1,000 incidents reported, according to JSO.

Still, longtime faithfuls would hate to see it go.

"I've been shopping ever since I was 15 years old. Go here, buy an outfit or buy a pair of shoes. Regency was the place to go. Still is the place to go," shopper Shermont Adams said.

Rockwood Real Estate Advisors out of New York is marketing Regency as a short sale.

Councilman Clay Yarborough, who oversees the mall's district, issued this statement:

"[Whether the short sale rumor is true or not,] I hope the private parties will consider positive options for Regency Mall and, if the desire is to steer away from traditional retail uses, put in place uses compatible with high quality of life in Arlington and all of Jacksonville."

Rockwood is marketing the property as an opportunity for a 225,000 square foot power center redevelopment. Shoppers are hoping for the best.

"If they can bring something in that's profitable and you can feel safe," Repass said.

Because of its rich history and legacy, Regency was inducted into the national Mall Hall of Fame several years ago.
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The views expressed here do not necessarily represent those of Action News Jacksonville

gpeabody2013 - 8/15/2013 10:20 AM
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It's amazing how reporters fill-in what they don't know or have no concept of. I like how Erica parrots the "facts" that the JBJ published 2 days ago - which was pretty much just the coversheet of the prospectus for the property – and acts as if she did some hard hitting reporting. Of course Erica then goes on to do the same poor reporting channel 30 did several years ago on crime stats – the numbers are high for the mall address because JSO uses the address for walk-in reports and random calls instead of the actual location of the crimes because of the substation (you would think the owners would reconsider hosting the substation due to that alone). So, as usual, the Jacksonville media is just stringing together whatever little information they can and calling it reporting. About the only thing any reporter (and I use that term loosely in this market) knows is that the mall is for sale. Here’s hoping to a bright future for Regency.

gpeabody2013 - 8/15/2013 10:11 AM
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