Sequoia Station Redevelopment is Critical to Unlocking Vital Transportation Improvements

Lowe recently closed an off-market transaction with Regency Centers Corporation to acquire its portion of the Sequoia Station Shopping Center in downtown Redwood City. Lowe is in the process of seeking entitlements to redevelop the site into a 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 on 6.65 acres. The price was undisclosed.

The shopping center is anchored by Safeway and CVS, and adjacent to downtown and the highly trafficked Redwood City Caltrain station. Safeway (Albertson Companies) will retain its current ownership within the shopping center, and both Safeway and CVS will remain open and operational as the phased project is constructed.

Given its proximity to the Caltrain station, the Sequoia Station redevelopment is critical to unlocking vital transportation improvements for Redwood City and the region, while creating new housing and maintaining the shopping convenience it provides.

“With the redevelopment of Sequoia Station, Lowe in partnership with affordable housing partner Eden Housing now has a transformational opportunity to reimagine neighborhood retail and enable future rail and grade separation upgrades in Redwood City, creating a vibrant and walkable public realm that connects to downtown and provides much-needed housing,” said Alan Chamorro, senior vice president and Northern California regional leader at Lowe.