Bed, Bath & Beyond Will Anchor Latest Area Retail Development by Regency Realty Corp.

HILLSBORO, OR-Regency Realty Corp. gave up the details of its three-building, 46,968-sf Tanasbourne Center retail project here near 185th and Sunset Highway. Bed, Bath & Beyond will anchor the development, taking the 30,000-sf building planned for the site. Party City will occupy the 10,000-sf building, and a 6,500-sf building is reportedly still available.

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.