Regency purchased the master-planned site at the intersection of Valencia Boulevard and The Old Road, here. The seller was The Newhall Land and Farming Company.
Westridge Village, a 100,000-sf retail center, will break ground in Fall 2002, and will open Summer 2003. The project will be anchored by a 50,000-sf Albertson's. According to Mac Chandler, vice president of investments for the Los Angeles region, Regency plans to build a strong relationship with the new community of Valencia Westridge, as well as the residents of The Santa Clarita Valley.
The transaction was directly negotiated between the buyer, represented by Mac Chandler of Regency, and the seller, represented by Robert A. Mayhew of Newhall Land. Nationally, Regency owns 268 retail properties totaling 28.6-msf located in high growth markets throughout the United States.
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