ISSAQUAH, WA-GlobeSt.com has learned that Regency Centers, anational owner, operator and developer of grocery-anchored shoppingcenters, will spend approximately $70 million to constructGrand Ridge Plaza, a 280,113-square-foot shoppingcenter on 24.58 acres that will break ground shortly. Located inthe heart of Issaquah Highlands, a master-plannedcommunity east of downtown Seattle, the center will be the onlymajor retail center to serve the community and will draw shoppersfrom around the region.

The open-air, pedestrian-friendly center, designed byFuller Sears Architects, will be located atNortheast High St. and Ninth Ave. Northeast, and will include a44,543-square-foot Safeway and a 56,820-square-foot, 12-screenRegal Cinemas. Grand Ridge Plaza’s merchandisingwill focus on convenience retail, restaurants, entertainment anddestination retailers in order to create a regional draw from thenearby Sammamish Plateau, greater Issaquah andInterstate 90. Safeway and the remaining center will open infourth-quarter 2013, following a first-phase opening of the movietheater in second-quarter 2013.

“Grand Ridge Plaza is one of the last infill development sitesin the area and will benefit from limited competition due to highbarriers to entry,” said Craig Ramey, SVP forRegency Centers, in a prepared statement. “We are committed toexpanding our presence in the Pacific Northwest through thedevelopment of quality shopping centers like Grand RidgePlaza.”