This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Regency Centers Has Closed On The Acquisition Of Balboa Mesa Shopping Center, A 189,321-square-foot Infill Shopping Center Anchored By Market-dominant Grocer Vons In San Diego. (Photo: Business Wire)

Regency Centers Corporation (NYSE:REG), a national owner, operator and developer of grocery-anchored and community shopping centers, closed on the acquisition of Balboa Mesa Shopping Center, a 189,321-square-foot infill shopping center anchored by market-dominant grocer Vons. Regency purchased the San Diego property for $59.5 million from Balboa Realty LLC.

Regency Centers has closed on the acquisition of Balboa Mesa Shopping Center, a 189,321-square-foot  ...

Regency Centers has closed on the acquisition of Balboa Mesa Shopping Center, a 189,321-square-foot infill shopping center anchored by market-dominant grocer Vons in San Diego. (Photo: Business Wire)

Built in 1969, Balboa Mesa Shopping Center is anchored by a 42,247-square-foot Vons, a 77,000-square-foot Kohl’s and a 24,000-square-foot CVS/pharmacy. Located at one of the city’s busiest intersections at Balboa Avenue and Genesee Avenue, the neighborhood center is situated in a major retail node with 63,000 vehicles passing the site daily. The center is surrounded by a residential population of 126,000 and a daytime population of 109,000 within a three-mile radius.

“Balboa Mesa fits Regency’s standards for a dominant shopping center, including infill location, market-leading anchors and population density,” said Howard Overton, vice president of transactions for Regency Centers. “Located in the core market of San Diego, this center complements Regency’s premier portfolio of centers nationwide.”

Gregg Sadowsky, senior market officer for Regency Centers, added, “The 95-percent-leased property offers an immediate redevelopment opportunity to increase the square footage of the center, further improving the net operating income for the project. The center’s prominent location, dense residential and daytime populations and strong traffic counts make this center one of the more desirable locations for retailers in the San Diego market.”

With the acquisition of Balboa Mesa, Regency owns 69 properties in California, including 10 retail centers totaling 1.5 million square feet in the San Diego market.

Stock quotes in this article: REG 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs