Coy Quine of Quine & Associates Inc. in Richardson, TX brokered the triple play for the buyer, who has interests in 40 retail centers scattered across the US. The hawked Regency centers are the 122,849-sf Harwood Hills Village in Bedford and 95,148-sf Village in Duncanville. The mysterious buyer also acquired the 106,557-sf Plaza on Legacy in Plano.
Quine tells GlobeSt.com that all three holdings fell under contract in January and closed just last week. He's keeping the identity of the main player confidential, but did disclose that all buyers of record share a "common thread with one person." The buyer is looking around for more properties, but as yet does not have anything else under contract, Quine confides.
Ken Shulman of Dallas-based Staubach Co. represented Regency Centers. John Sabow of Marcus & Millichap's Tampa office and David De La Garza of the firm's Dallas office co-brokered the Plaza on Legacy sale for the Florida seller, whose name also is being kept under wraps. Selling and asking prices alike also are not being made public.
Harwood Hills Village and Duncanville's Village are 20-year-old properties with occupancies of 92% and 91%, respectively. The Plaza on Legacy is 95% occupied. Quine & Associates get the leasing and property management contracts with the ownership change.
Only Harwood Hills has room to grow, according to Quine. The Tom Thumb-anchored center is positioned on slightly less than 17 acres. Duncanville, also Tom Thumb-anchored, takes up nine acres while Legacy, built in two phases in 1999 and 2000, is situated on about 12.4 acres. Quine says the Legacy center's lead act is Super One Foods, which is being bought by Dallas-based Fleming Co. That property also contains a Walgreens and Jack in the Box.
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