Regency Centers acquires first New York property
Jacksonville, Fla. — Regency Centers announced it has closed on the acquisition of its first New York property, the 141,382-sq.-ft. Lake Grove Commons, for $72.5 million with its co-investment partner First Washington Realty.
Located on Long Island, Lake Grove Commons is a Class A property anchored by the only Whole Foods Market in Suffolk County along with LA Fitness and Petco. Built in 2008, the center is fully leased to six national tenants.
“As the newest center in a fully developed market with high barriers to entry, Lake Grove Commons provides a strong foundation to expand Regency’s presence into one of the top retail markets in the country,” said Scott Porter, senior manager of acquisitions for Regency Centers.
Lake Grove Commons is the fifth grocery-anchored center acquisition for Regency within the past 12 months. While Lake Grove Commons is Regency’s first asset in New York State, the company also owns the 103,891-sq.-ft. Plaza Square anchored by ShopRite in Wayne, N.J., considered part of the New York CBSA.
Gymboree Play and Music opens at Westridge Court
Naperville, Ill. — Brixmor Property Group announced a 4,000-sq.-ft. Gymboree Play and Music recently opened at Westridge Court, located in Naperville, Ill.
Brixmor, based in New York City, is the owner of Westridge Court.
Anaheim Town Square adds four new tenants, now 99% leased
Anaheim, Calif. — NewMark Merrill Cos. announced that Anaheim Town Square, in Anaheim, Calif., added four tenants to achieve 99% occupancy. The center’s four newest tenants are Staples, Yuva Threading Salon, Hawaiian King BBQ and Waba Grill.
Staples, which opened in December 2011 located next to HomeTown Buffet, signed a 10-year lease for the approximately 17,500-sq.-ft. store.
Yuva Threading Salon signed a five-year lease for an approximately 900-sq.-ft.
Hawaiian King BBQ signed a five-year lease for the approximately 1,800-sq.-ft. unit, and Waba Grill, which will open in 2012, signed a five-year lease for an approximately 1,254-sq.-ft. space.