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| Circle Marina Center, Long Beach, CA |
LONG BEACH, CA, Sept. 30,
2019 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or
the “Company”) (NASDAQ:REG), the preeminent national owner, operator, and
developer of shopping centers, has announced the off-market acquisition of
120,000-square feet of premier retail located in the heart of Long Beach,
CA known as Circle Marina Center.
It is currently 95% leased and includes 33,000-square feet of a
three-story office building and above-retail office.
Originally built in 1959, this property sits on
the Pacific Coast Highway in a high density submarket in close
proximity to three other Regency shopping centers, and has become the fifth
property Regency owns in Long Beach.
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| John Mehigan |
The surrounding demographics consist of a population of nearly 250,000 with an average home value of $952,000.
In 2018, Long Beach was home to more than $5 billion in private/public development and over 60 projects are currently in development.
“There is a real opportunity for enhancement at
Circle Marina Center,” said John Mehigan, Senior Vice President and
Senior Market Officer for Regency Centers.
“Circle Marina is surrounded by great demographics
and a substantial amount of new development that has been occurring in the
market over the last ten years.
"Our objective is to take full advantage of
Circle Marina’s location and bring the best face forward for the
future. Long Beach is a special city, we love doing business here,
and look forward to building on our presence in this thriving city.”
Regency Centers is the owner and operator of
Circle Center West, Marina Shores, Ralphs Circle Center, and Vons Circle
Center.
CONTACT:
John Mehigan
Senior Vice President, Senior Market Officer
213-553-2273
JohnMehigan@RegencyCenters.com
Senior Vice President, Senior Market Officer
213-553-2273
JohnMehigan@RegencyCenters.com
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