Regency Centers, a prominent national shopping center owner, operator, and developer, announced the acquisition of the Compo Shopping Centers in Westport, Connecticut. The transaction involved the purchase of two retail destinations, Compo I & II, collectively spanning 76,000 square feet of space. These centers will merge operations with Regency’s adjacent property, Compo Acres, creating the Compo Acres Shopping Center with a total area of nearly 120,000 square feet of high-quality, community-focused retail space along Post Road. Jack deVilliers, Senior Market Officer and Senior Vice President for Regency Centers, emphasized the company’s commitment to the market, citing the area’s community, quality centers, and the application of their time-tested strategies. Barry Argalas, Managing Director of Transactions at Regency Centers, expressed enthusiasm for taking over the once family-owned asset, signaling an intent to strengthen the center’s connection with the local community and seeking further acquisitions in line with their investment strategy. With this acquisition, Regency Centers continues to implement its strategic vision of owning and operating thriving suburban shopping environments, further solidifying its status as a self-managed, self-administered real estate investment trust (REIT) and a member of the S&P 500 Index.

Real Estate, Retail, Investment Trusts,Connecticut, United States, Suburban Trade Areas

https://www.globenewswire.com/news-release/2024/05/09/2879014/37116/en/Regency-Centers-Continues-Northeast-Expansion-with-Connecticut-Acquisition.html