Transit, Regency plazas rebound
Around this same time a year ago, things looked rather tough for the Regency Plaza and Transit Plaza. Within a span of a few months, the two older Sioux City shopping centers had each lost its largest anchor, Toys ‘R Us and Gordmans, respectively.
At each center, several other tenants also had departed. Some closed for good, but others left for new, higher-traffic retail centers like Lakeport Commons.
By the end of 2006, Regency Plaza was down to just a single tenant — a military recruiting office. Two new businesses that had arrived in Transit Plaza — Sun Ray’s Tanning and Venetian Spa & Salon — later closed.
Now both Transit and Regency appear to be bouncing back. Harbor Freight Tools, a national discount tool retailer, plans to open its first Sioux City store in half of the former Michaels space at Regency. Another unidentified retailer is interested in the other half.
Just this week, Sioux Falls-based Furniture Outlets USA said it will open a store called Unclaimed Freight Furniture and Clearance by mid-February in the 70,000 square feet of space vacated by Gordmans.
Local businessman Jim Zortman also intends to bring a 24-hour fitness and tanning salon to Transit next month.
Accolades for helping lease the vacant spaces in both Transit and Regency should go to United Commercial’s Dick Salem, the metro area’s top local producing commercial Realtor for some 20 years. Salem concentrated on discount retailers, knowing they likely would be the best fit for each center because of their ages and locations.
A selling point for both centers are monthly rents that are lower than some other newer commercial space. Gordy Wallenstein, president of Furniture Outlets USA, said the financial terms played a major role in selling the company on the former Gordmans site.
“They made us a very attractive offer to come into the building and give it a shot,” Wallenstein said of the Transit Plaza owners.
