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COLORADO SPRINGS, CO-Regency Centers has paid $9.07 million for the 127,267-sf Woodmen Plaza shopping center in this city about 60 miles south of Denver. The center, anchored by a King Soopers, on Woodmen Road, a major thoroughfare, between Lexington and Rangewood Road.

The seller was M&KS Woodmen Development.

Other tenants in the center include Hallmark, GNC, Mail Boxes Etc., Avis Rent A car and Firestone.

Regency, a real estate investment trust based in Jacksonville, FL, owns 266 retail properties with a total of 28.8 million sf in high-growth markets.

Regency Centers is the leading national owner, operator and developer of grocery-anchored neighborhood retail centers. It owns and operates centers in key markets in 23 states. Its holdings can be found in Denver, Atlanta, Dallas, Los Angeles and Seattle, for example.

The REIT looks for attractive demographics, dominant grocers and properties that are cycle-resistant because they fill necessity and or convenience demand.

More than 90% of Regency’s grocery anchored centers are anchored by supermarket chains such as Kroger, Publix, Safeway and Albertsons that are either the No. 1, No. 2 or No. 3 grocers in their markets.

King Soopers is a division of the Dillon Cos., which, in turn, is owned by Kroger.

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