Regency Properties, an Evansville-based commercial real estate company, has announced it has signed a lease with Ross Stores, Inc. to open a Ross Dress for Less (“Ross”) store at Evansville’s Village Commons.
As part of the deal, Regency Properties is making a multimillion dollar investment to complete a 5,000-square-foot expansion and renovation of the Village Commons shopping center. The expansion will be added to an existing lease space next to Gander Mountain, bringing the total retail footprint of the center to 212,000 square feet. The Village Commons shopping center, developed, owned and managed by Regency, features stoplight access from Lloyd Expressway in the heart of Evansville’s east side retail corridor.
Regency will complete its construction and other property upgrades by the summer of 2015. The new 25,000-square-foot Ross store will join retailers Hobby Lobby, Gander Mountain and Value City Furniture as a major tenant of Village Commons.
Ross Dress for Less is the largest off-price apparel and home fashion chain in the United States with 1,194 stores in 33 states, the District of Columbia and Guam. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20% to 60% off department and specialty store regular prices.
“We are excited to add another excellent credit tenant to our growing portfolio, but even more thrilled to bring a retailer like Ross to Evansville,” remarked Regency Properties President & CEO Kevin Hammett. “Ross provides an outstanding addition for shoppers of Evansville’s east side retail corridor. Regency’s investment to improve Village Commons shows we are committed to bringing more retail choices to Evansville consumers.”