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Florida REIT Stakes Out Arizona and Colorado

PHOENIX-Regency Centers, a shopping center REIT, is positioning itself for a major expanded presence in Arizona and Colorado. In Arizona, there are six grocery-anchored retail centers in the works and two more on the drawing boards.

By D.J. Burrough | Updated on July 04, 2001

PHOENIX-Regency Centers, a Jacksonville, FL-based REIT, is on the fast track to expand its retail presence in Arizona and Colorado. Real estate veteran Snowden Leftwich has been brought on board to steer the strategy.

“We are extremely excited about boosting our involvement in retail development in the Denver and Phoenix market,” says James Buis, managing director of investments for the Southwest region for Regency Centers.

Regency Centers has six retail centers either under construction or under development in Arizona. The Phoenix properties are Carefree Marketplace in Phoenix, totaling 85,600 sf and anchored by a Fry’s Food Store and South Mountain Shopping Center, an 81,600-sf site anchored by a Safeway. In Chandler, the REIT is building two Safeway-anchored centers, the 95,800-sf Ocotillo Center and the 89,5000-sf The Provinces. Safeway also is anchoring the 85,700-sf Stonebridge in Mesa and Safeway Vistoso, a 90,000-sf center in Tucson.

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