Regency Centers Corporation (NYSE:REG), a national owner, operator and developer of grocery-anchored community shopping centers, has announced the acquisition of the Shops at Mira Vista in Austin, TX. The Shops at Mira Vista is a 68,340 square foot neighborhood shopping center, offering a diverse mix of upscale retailers and restaurants. The center is anchored by Trader Joe’s - the specialty grocery chain’s first location in the Austin market - as well as other notable tenants, including Panera Bread Company, Nothing Bundt Cakes and Champions Cheer and Dance.
Trader Joe's at Mira Vista (Photo: Business Wire)
“The acquisition of the Shops at Mira Vista fits perfectly with our strategy to invest in class A centers located in high-barrier markets,” said Stuart Brackenridge, Vice President, Transactions. “Austin is a booming economic market and this center is strategically placed to serve the thriving community that surrounds it. Currently, the center is 98% leased with strong interest in the last remaining vacancy.”
The Shops at Mira Vista is located at the southwest corner of Bee Cave Road and Edgegrove Drive, easily accessible to the affluent Rollingwood and Westlake Hills neighborhoods. The property is approximately three miles southwest of the Austin Central Business District, and benefits from a sizable daytime population of more than 180,000.
This transaction continues Regency’s expansion in Texas, which includes recent investments in the Houston and Dallas markets. This will be Regency’s fifth center in the Austin area. For leasing or more information about the Shops at Mira Vista or other Regency properties in the Austin market, contact leasing agent Erik Tompkins at 713-599-3503 or ErikTompkins@RegencyCenters.com.About Regency Centers Corporation (NYSE:REG) Regency is the preeminent national owner, operator and developer of high-quality grocery-anchored and community shopping centers. As of Dec. 31, 2013, the company owned 328 retail properties, including those held in co-investment partnerships. Including retailer-owned square footage, the portfolio encompassed 43.3 million square feet located in top markets throughout the United States. Since 2000, Regency has developed 214 shopping centers, including those currently in process, representing an investment at completion of more than $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.