Regency Realty Successfully Preleasing Retail Development

HILLSBORO, OR-Regency Realty Corp. is successfully preleasing a planned 46,500-sf retail project here on property near 185th and Sunset Highway. H. Craig Ramey, the retail REIT’s senior vice president of Northwest investment, has so far declined to speak with GlobeSt.com about the project, but real estate sources say 40,000 sf of has been leased to two unnamed tenants, one a 30,000-sf user and the other a 10,000-sf user. A 6,500-sf building is reportedly still available.

Regency purchased the property–2800 NW 188th Ave.–in December for $3.8 million, according to Oregon Title Insurance Co. It was previously slated to be a full-service Marriott hotel. The seller, Atlanta-Hillsboro Lodging LLC, paid $2.7 million for the land in May 1998, according to the title company. Hotel broker Ed Dundon represented Atlanta-Hillsboro Lodging LLC. Skip Stanton represented Regency. Neither would comment for this story.