John Hricko, vice president of operations for Regency, tells GlobeSt.com that the grocery-anchored plaza was the Jacksonville, FL group's first buy in the Bay State and the firm is eyeing other potential offerings and development opportunities. "We feel it's a strong growth market for us and we are looking for future acquisitions."
He declined to reveal the price Regency paid for the acquisition, other than to say the tab ran to several million dollars. Regency declined to release the name of the property's seller but records on file with the Middlesex Registry of Deeds in Cambridge lists previous owner as Charter Twin City LLC.
The firm's latest acquisition, which is located at 22 McGrath Highway, is comprised of 182,502 sf of ground-level retail. That total includes a 62,616-sf Shaw's Supermarket, 64,891 sf of lower level retail, 34,315 sf of second level office space and a 4,039-sf McDonald's located on an outparcel. Tenants in the fully leased plaza include Marshall's, Gold's Gym, Brooks Pharmacy, Dunkin Donuts, Baskin Robbins, Papa Gino's, Mattress Giant, Supercuts, Dollar Tree and Weight Watchers.
The acquisition is the company's fourth shopping center holding in New England, Regency also owns the Amherst Street Village Center and the Merrimack Village Center, both in New Hampshire, and Corbins Corner, in Hartford. Regency currently owns and operates shopping centers in 29 states and Washington, DC.
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