HEWLETT, NY--(BUSINESS WIRE)--
Regency Centers Corporation (“Regency” or the “Company”) a national owner, operator, and developer of grocery-anchored shopping centers, has announced the off-market acquisition of two adjacent properties. The 33,000-square foot center anchored by Petco (Hewlett I) and the 20,000-square foot center anchored by Duane Reade (Hewlett II) were separately operated, but acted as a single center. Under Regency’s ownership the two will operate as a single center known as Hewlett Crossing.
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“As we continue to expand our presence in the market, we are focused on shopping centers with premier demographics that offer opportunities to enhance the customer experience,” said Joanna Rotonde, Senior Manager of Transactions for Regency Centers. “Hewlett Crossing’s location on the main retail corridor serving the dense and affluent population base has resulted in a successful and seasoned tenant roster. The Hewlett Fish Market has been a tenant since 1955 and nearly 70% of the tenants have been at the center for 15 years or more."
The acquisition of Hewlett Crossing increases Regency’s Long Island presence to 14 centers totaling nearly 1.9 million-square feet.
About Regency Centers Corporation (REG)
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit regencycenters.com.