Struggling Jax Mall Changes Hands

When it opened in 1967, Regency Square Mall was the largest shopping center in the Southeast. However, its tenancy has steadily declined. In 2014 the mall owners reported that occupancy at Regency Square had fallen from 60.1% at the end of 2012 to 37.9% in 2014. Over time, it didn’t do much better, and now it’s just a shell of its former self.

Blackwater Development paid $19.1 million for the 74-acre mall and hopes to make significant changes. The mall has more than 900,000 square feet of retail space. The once-bustling mall will be redeveloped into The Nexus at Regency, which will include residential communities, national retail brands, and financial institutions. 

Blackwater says it identifies strategic redevelopment opportunities to transition previously underperforming assets to fulfill their full potential, transforming these projects into premier commercial destinations and providing the community with a renewed hub of economic activity. 

Early projects already underway at the site include a Raising Cane’s restaurant, and the mall property currently houses a Firestone Complete Auto Care facility at the intersection of Monument Road and Atlantic Boulevard.