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REDWOOD CITY, CALIF. — Lowe has completed the purchase of Regency Centers’ portion of the Sequoia Station Shopping Center in downtown Redwood City. Terms of the transaction were not released.
Lowe is in the process of seeking entitlements to redevelop the site into a modern mixed-use development as part of Redwood City’s proposed Transit District. The Regency portion of the property includes 103,000 square feet of retail space on 6.6 acres. Safeway and CVS/pharmacy anchor the property. Safeway will retain its current ownership within the shopping center and both Safeway and CVS/pharmacy will remain open and operating as the phased project is constructed.