Regency Centers closes on sale of redeveloped shopping center

Hillsboro, Ore. Jacksonville, Fla.-based Regency Centers said it has recently closed on the sale of a former Mervyns store location with space leased to Best Buy and Sports Authority within the Target-anchored Tanasbourne Town Center located in Hillsboro, Ore.

The buyer is an affiliate of The Inland Real Estate Group. The property was initially acquired by Regency as part of a purchase of three former Mervyns locations in Washington and Oregon in 2007.

Regency purchased, remodeled and re-tenanted the 76,483-sq.-ft. Tanasbourne property.

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