Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LACY, WA-Renovation and expansion of the 103,000-sf former HomeBase retail warehouse at the Martin Village Shopping Center here is expected to begin this month. Upon completion next spring, the structure will be home to a 75,000-sf Regal Cinema and 45,000 sf of additional retail space.The property is part of the Martin Village Shopping Center, which sits next to Interstate 5 and is anchored by ShopKo, Top Foods Market and U.S. Bank. The HomeBase building redeveloper is Vintage Capital Group LLC, which acquired the structure last year out of bankruptcy for $3.9 million, according to public records. The company began negotiating with Regal in January and has since negotiated a long-term lease agreement. Building plans have been completed, permits are ready to be issued, and construction will begin sometime this month, Vintage Capital SVP Greg Peterson tells GlobeSt.com. While not willing to discuss the cost of the redevelopment, Peterson says the entire roof will be torn off and 17,000 sf will be added where the outdoor garden center used to be located. The process of selecting a lender and a contractor are underway, he adds.Regal Entertainment Group operates the largest chain of movie theaters in the US, operating 6,061 screens in 555 locations in 39 states. Regal operates 17% of all screens in the United States. Aside from the theater, Vintage Capital says it is negotiating with several national and regional restaurants and retailers to fill the adjacent retail space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.