Regency purchased the property--800 NW 188th Ave.--in December for $3.8 million, according to Oregon Title Insurance Co. It was previously slated to be a full-service Marriott hotel. The seller, Atlanta-Hillsboro Lodging LLC, paid $2.7 million for the land in May 1998, according to the title company. Hotel broker Ed Dundon represented Atlanta-Hillsboro Lodging LLC. Skip Stanton represented Regency.

Meanwhile, Regency is developing Hillsboro Landing Center, a 159,000-sf center also located hyere, is anchored by a 58,000-sf Albertson's (Phase I), for which an Albertson's fuel station is in the works. Phase II is in the planning stages. Finally, south of Seattle, Regency's Sherwood Crossroads, an 80,127-sf facility in Sherwood, OR anchored by Safeway, is scheduled for completion at the end of the month.

Regency Realty has had a strong desire to be active in the Portland and Seattle areas, says Regency's senior vice president of Northwest investment H. Craig Ramey, and with a total of 19 developed and under development projects, "we are on our way."