Regency Centers, the Jacksonville-based company behind the Mandarin Landing redevelopment on San Jose Boulevard, said its national portfolio is 96.8% leased with nearly $700 million in projects underway.

CEO Lisa Palmer made the remarks Sept. 15 at the BofA Securities 2026 Global Real Estate Conference. "We're moving our occupancy beyond prior highs," Palmer said, according to the Jacksonville Daily Record.

The company operates 474 grocery-anchored shopping centers nationwide, including Mandarin Landing at 10601 San Jose Blvd. Palmer said Regency has nearly $700 million in development and redevelopment projects in progress, though she did not name individual projects at the conference.

A $15 million makeover in Mandarin

Mandarin Landing is in the middle of a redevelopment that real estate writer Dana Hancock valued at $15 million in an Aug. 26 report. The project has reshaped the 17.3-acre, Whole Foods-anchored center by demolishing roughly 20,500 square feet of aging retail space and adding up to 16,800 square feet across two new buildings.

New tenants open, others still pending

Several pieces of that overhaul are already in place. Baptist Health moved into the 24,650-square-foot former Office Depot building, consolidating two Mandarin medical offices under one roof. Another Broken Egg Cafe is open in a 3,500-square-foot space near Whole Foods, which completed its own interior remodel.

Sephora leased a 4,830-square-foot space next to Whole Foods in a newly built section of the center, according to a January 2024 Jacksonville Daily Record report. Its current operating status is unclear.

Cooper's Hawk Winery & Restaurants leased a 10,725-square-foot standalone building on Pad 4 near San Jose Boulevard, according to the same January 2024 report. The Mandarin location would be Cooper's Hawk's second in Jacksonville. No opening date has been announced.

Earnings, project origins and headquarters plans

Regency's second-quarter 2026 earnings release, dated July 29, showed $680 million in active development and redevelopment projects as of June 30. The company also raised its full-year earnings guidance.

Patrick McKinley, who was Regency Centers' vice president and market officer for Jacksonville at the time, described the Mandarin Landing vision in March 2023 when the project was announced. He said the center's layout would be reconfigured around Whole Foods, Baptist Health and new restaurant tenants.

Regency Centers is also planning to move its corporate headquarters from downtown Jacksonville to The Village at Seven Pines, with a city permit under review for an estimated $9.47 million build-out of nearly 50,000 square feet. That move is expected in 2028.