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Regency Targets Shopping Center Acquisitions in Philly MSA

PHILADELPHIA-The Jacksonville, FL-based owner and developer of

By Marita Thomas | Updated on February 17, 2003

PHILADELPHIA-Central to Jacksonville, FL-based Regency Centers’ plans to expand in the Mid-Atlantic area is the opening of an office in Bala Cynwyd, PA. Powell Arms, former VP of development for locally based PREIT, heads the new Regency office as VP of investments.

Regency, which specializes in grocery-anchored shopping centers, currently owns and operates 263 retail properties totaling 28.7 million sf. However, it has no properties in this state and just one each in NJ and DE, which are also a part of the market being covered by the Bala Cynwyd office.

The opening of the suburban Philadelphia office coincides with the opening of a Regency office in Washington DC, another target of shopping center acquisitions. At a meeting of the Philadelphia chapter of CREW Network – the network of Commercial Real Estate Women – Mary Lou Fiala, Regency’s president and COO, said her company hopes to acquire between $300 million and $400 million worth of retail properties in the Mid-Atlantic, now a regional “void” in her company’s portfolio.

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