Target, Sprouts to Anchor 230,000-Square-Foot Shopping Center Along I-10 Corridor

Regency Centers Corporation (NASDAQ: REG) has officially announced the development of Oak Valley Village, a new 230,000-square-foot open-air shopping center that will break ground at the southeast corner of Interstate 10 and Oak Valley Parkway in Beaumont, California. Designed as a vibrant new commercial hub, the project will be anchored by major national retailers Target and Sprouts Farmers Market, signaling significant momentum in the city’s ongoing growth.

With construction already underway as of early November, Oak Valley Village is positioned to capitalize on strong local demographics—boasting more than 96,000 residents within a five-mile radius and high rates of homeownership and household income. This new retail center is expected to serve not only Beaumont’s growing population, but also neighboring cities in the Inland Empire.

National Brands, Local Impact

Phase I of the project includes a 148,000-square-foot Target, a 23,000-square-foot Sprouts, 12,000 square feet of junior anchor space, and 34,000 square feet of additional shop space for retail and dining tenants. The development is designed to be necessity-driven, combining convenience and community-oriented retail options.

“Oak Valley Village will bring a vibrant, necessity-driven shopping destination to Beaumont, offering the community access to national retailers, local favorites, and high-quality dining options,” said Chris Sanchez, Vice President and Market Officer for Regency Centers. “We are proud to work alongside the City of Beaumont to make this vision a reality and look forward to delivering a project that will serve as a retail hub and gathering place for years to come.”

City and Developer Collaboration

The City of Beaumont has played an integral role in facilitating the project. Local officials praised the development as a sign of the city’s appeal and progress.

“The arrival of Target and Sprouts in the new Regency development marks more than just growth—it reflects Beaumont’s ability to attract high-quality retail that enhances daily life and strengthens our local economy,” said Mayor Mike Lara. “This project represents the culmination of hard work by our City Council, city staff, and development partners at Regency Centers.”

A Strategic Vision for Regional Retail

Oak Valley Village will benefit from excellent freeway visibility, convenient access, and a carefully curated tenant mix, positioning it as a prime destination for shopping, dining, and social interaction across the Inland Empire. Anchor tenant openings are anticipated in the second half of 2027.