Spotlight On: Lisa Palmer, President & CEO, Regency Centers Corporation
Key points:
- • Grocery-anchored retail remains resilient as consumers prioritize convenience and essential needs.
- • Regency is targeting growing markets through development and redevelopment.
- • Physical stores increasingly complement e-commerce and last-mile fulfillment.
August 2026 — In an interview with Invest:, Lisa Palmer, president and CEO of Regency Centers Corporation, discussed the resilience of grocery-anchored retail, the company’s development strategy, and evolving consumer behavior. “The demand for local neighborhood convenience, value, and essential retail is strong across the country, and especially here in Jacksonville,” Palmer said.
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What gives Regency Centers confidence that grocery-anchored shopping centers will remain resilient as consumer behavior continues to evolve?
I have been with the company for almost 30 years, and throughout that time there have been many perceived threats to physical retail. We have gone through recessions, the global financial crisis, the rise of e-commerce, and the pandemic. Through all of that, our focus has remained the same.
Grocery-anchored shopping centers have been our strategy since Regency became a public company in 1993. We have always believed that consumers prioritize convenience, daily needs, essential retail, and staying close to their neighborhoods.
COVID ultimately validated those beliefs. Consumers realized they still value getting out into their communities, even for everyday needs. Retailers also realized that the most efficient way to serve customers is through physical stores. Walking into a store remains the most cost-effective option, followed by buying online and picking up in-store or curbside. The demand for local neighborhood convenience, value, and essential retail is strong across the country, and especially here in Jacksonville.
What have been the main highlights and milestones for Regency Centers over the past year?
2025 was a strong year for Regency, supported by continued demand for space in neighborhood and community shopping centers. We achieved all-time highs in occupancy, reflecting the strength of both the sector and our portfolio.
We also invested more than $800 million in acquisitions and development projects and started 24 projects across 16 markets. The majority of that activity has been focused on ground-up development.
One of the most exciting projects for us locally is The Village at Seven Pines in Jacksonville. In addition to being a Publix-anchored shopping center, it will become Regency’s new corporate headquarters, with office space located above ground-floor retail.
How are necessity, convenience, and value influencing leasing decisions and tenant mix today?
Consumers want convenience, but they also have many choices. Our goal is to create places where people want to spend time and where they want to spend their money.
Leasing decisions are driven by both market demand and how a prospective tenant complements the existing mix of businesses within a shopping center. We want uses that work together and meet the needs of the surrounding community.
Our market research team provides extensive data on neighborhood demographics and consumer demand, helping us identify the goods and services that are most needed within each trade area.
What types of markets and projects are you prioritizing right now?
We operate across 16 markets and continue to invest throughout our existing footprint. We are particularly attracted to trade areas experiencing population growth and income growth.
Jacksonville has been an excellent market for both development and redevelopment. Recent examples include the redevelopment of Anastasia Plaza in St. Augustine, improvements to our Whole Foods-anchored shopping center in Mandarin, and the new development at The Village at Seven Pines.
More broadly, we look for growing communities where demographic trends can support long-term retail demand.
How do you measure whether a center is becoming a true community hub rather than simply a retail destination?
Our Fresh Look initiative is centered on creating thriving places for consumers. We measure foot traffic, which tells us how many people are visiting a property, and dwell time, which measures how long they stay.
We can also evaluate those metrics at the tenant level. Ultimately, tenant sales remain one of the strongest indicators of success. Through our relationships with retailers, we are able to understand how individual stores are performing.
Across the country, Regency shopping centers consistently rank among the highest-performing locations for many of our tenants.
How are you evaluating future growth opportunities as migration patterns shift and affordability pressures rise?
We focus on what we call compelling demographic trade areas. While inflation and affordability pressures have affected consumers, our portfolio is concentrated in neighborhoods where residents are generally better positioned to absorb those changes.
Convenience and value become even more important during periods of economic pressure. Consumers often stay closer to home and prioritize everyday needs, which aligns well with the types of retailers located in our centers.
Over the past 30 years, Regency has continued to grow through a variety of economic cycles. There have only been two years in which our same-property net operating income declined: during the global financial crisis and during the pandemic. That track record reflects the durability of both the sector and our strategy.
How has the relationship between e-commerce and traditional brick-and-mortar retail changed since the pandemic?
Before the pandemic, e-commerce and physical retail were often viewed as competitors. Today, they are increasingly complementary.
Retailers use physical stores to fulfill online orders, support curbside pickup, and serve as customer experience hubs. In many cases, stores function as part of a retailer’s last-mile distribution strategy.
The most profitable way for a retailer to get goods into a customer’s hands is still through an in-store purchase. Local shopping centers also provide a more efficient fulfillment option than large distribution facilities. That dynamic has strengthened the role of physical retail rather than diminished it.
How do you decide when mixed-use enhances value versus when it distracts from Regency’s core competency?
Horizontal mixed-use development is almost always complementary to retail. People increasingly want to live, work, and spend time close to home, and a mix of uses can strengthen the overall appeal of a community.
Retail, medical services, schools, and housing often support one another and contribute to the success of a development.
Vertical mixed-use projects require a more selective approach. They are more complex and typically take longer to complete. When pursuing those opportunities, we may bring in partners whose expertise aligns with the additional use being incorporated. Each project is evaluated individually to determine whether it creates value while remaining consistent with our core strengths.
How does Regency maintain visibility and engagement across the markets where it operates?
We have six managing directors across the country and give those regional leaders significant autonomy within their markets. We also have processes that keep the organization connected and aligned.
Our leaders are deeply involved in their local communities and professional organizations. For example, our CFO is active with the Florida Institute of CFOs, I serve on the board of the Jacksonville branch of the Federal Reserve, and our executive chairman participates in the Jacksonville Civic Council.
Those connections help us stay engaged with local business communities while maintaining a strong understanding of the markets we serve.
Want more? Read the Invest: Jacksonville report.
