BREA, CA—As GlobeSt.com reported last week, Regency Centers is planning to build Village at La Floresta, an 87,000-square-foot retail center in the master-planned La Floresta community here. The center will be home to the first Whole Foods Market in North Orange County. We caught up with James Martinez, project manager for La Floresta's developer Chevron Land & Development Co., and John Mehigan, VP of investments for Regency Centers, to discuss how the new shopping center will impact the community and the region.

GlobeSt.com: How does this shopping center represent a general trend in the retail sector?

Martinez: Our development is a former research-center site, and we have been working on it since about 2002 in coordination with the City, trying to develop what we call a multi-generational mixed-use community. There are a lot of different product types throughout the development, which is on approximately 120-plus acres. There are single-family, flats, townhomes and a 55-plus center—all part of this mixed-use community that is going to be incorporated with this retail component. It's really the heart and soul of the development, and it's where all the activity is going to be. The homes back up right to the center, and there's an apartment building right next to the retail center.

What's really unique about this retail component is this art piece called Oasis in front of it. It has a kinetic element and is powered by wind with 38 plumes that represent arms pumping oil wells. That's significance in that, since it was a former company site. It's right next to the Whole Foods and very large—right on the corner of Valencia Ave. and Imperial Hwy.

As far as trends go, I'd like to think this kind of development is going to be developed more in the future. It has a village-style environment, combining retail and homes, and people can keep their car in the garage and walk down to the retail center. It's also multigenerational. A lot of the builders we have, like Standard Pacific Homes, are designing many of the units with that in mind. There are similar types of developments like this throughout Orange County, but this is unique because we have this retail center. It's almost an island on the east side of Brea that is close to schools, the freeway, major streets and very centrally located within Brea.

Mehigan: I feel like retail in general is going to be more experience-based and more than just providing the same old meat and potatoes. We cater to the North Orange County market, a high-income area with a great daytime population that doesn't have all the services it needs. There's no Whole Foods for 15 miles, so this is a great anchor tenant to kick off the project. Whole Foods is a great tenant because when you shop there, you're not just buying a salad—there's a story behind it. That's the type of retailer we're looking for and it's what the customer wants these days. People want to know where their food comes form, how it's prepared, and no one does that better than Whole Foods. That's just one tenant, but se start with a strong anchor. We want to carry that throughout the project. A great area like Brea allows you to go out and cherry-pick other retailers that people don't have in their market.

GlobeSt.com: How will this center impact the retail market in Brea?

Mehigan: There are some really powerful shopping centers in the market already. We're not the first to realize Brea is a compelling market. We're trying to set the bar a little higher than what is out there today, and by doing that it creates re-tenanting of other shopping centers. They're able to capture a new high-end user. Competitors will see that and want to tap into that as well.

GlobeSt.com: What other changes do you foresee happening in the area as a result of this development?

Martinez: I think it will have a great impact. There have been extraordinary sales for the homes in this community for a number of reasons. The quality of homes is outstanding. We're getting other builders involved, and there's a lot of ancitipation for this retail coming to our community. We have 110 families living there now, and they're just thrilled about the community. In my opinion, when other retail developers see something like this, I think it will stimulate these types of developments throughout Orange County.

Mehigan: I think we're creating a great amenity. There's 1 million square feet of office directly next door to the project. We're putting restaurants and retailers right next to them, and this is an amenity an office owner would like to offer tenants. By putting them next to this center, their leasing will be positively impacted.

GlobeSt.com: What else should readers know about this center?

Martinez: It's on the east side of Brea, and although there is other retail there, this center will not only serve Brea, but Yorba Linda, Valencia and other regions nearby. There's a lot of exciting from neighboring communities about Whole Foods coming in.

Mehigan: The art piece is a very important part of the project. The whole project was designed around it. It's like the infield of a baseball stadium; the different elements are like the bases: Pitfire Pizza, Whole Foods, the art piece—it will be an experience like nothing else in Orange County.