Regency Centers Buys 12 acres in Greeley

GREELEY, CO-Jacksonville, FL-based Regency Centers bought 12.3 acres of land in this city 55 miles north of Denver. With the land in hand, Regency will immediately begin constructing the second phase of a grocery-anchored shopping center at its CenterPlace center. The first phase began last year.

The parcel was subdivided into three lots prior to the closing of the deal. Lot one is 10.309 acres of land, which is planned for an 88,408-sf Kohl’s.Lot two contains just less than an acre, which will be developed into a 9,375-sf multi-tenant retail building. The third lot, also slightly less than an acre, will be developed into a restaurant.

The land is adjacent to a Target, Safeway and Ross Dress For Less that are under construction. Current tenants at the CenterPlace include Subway, Capri Coffee, and Cost Cutters among others.

“This has been an ongoing project for Regency Centers and we are pleased to complete another portion of this project,” says Michael Carter, VP of investments for Regency. “CenterPlace of Greeley is a shopping center with great potential for growth and development. We are confident that with this latest addition, high quality tenants will continue to be drawn to this property.”

Regency owns, operates and develops grocery-anchored, neighborhood retail centers. Regency’s total assets exceed $3.3 billion. The real estate investment trust owns 261 retail properties totaling 29.5 million sf in high growth markets throughout the United States.