July 19, 2016
Regency Centers Corp., which owns, operates and develops grocery-anchored centers nationwide, has increased its portfolio with the acquisition of the 107,000-square-foot Klahanie Village Shopping Center in Sammamish, WA. With this $36 million acquisition, Regency now owns 11 properties in Washington’s Puget Sound area.
Seller Gerrity Atlantic Retail Partners owned the property for close to five years, after acquiring it for $22 million, at a 7-cap.
The asset at 4506-4588 Klahanie Dr. S.E. was built in 1999. It is anchored by a 40,000-square-foot Quality Food Centers (a Kroger subsidiary). The additional 67,000 square feet is leased to a mix of national and retail tenants.