August 8, 2016
Jacksonville, FL-based Regency Centers Corp. closed a 20.9-acre land acquisition for The Village at Tustin Legacy, a $40-million neighborhood center within the 1,600-acre master-planned community of Tustin Legacy. Regency is selling 4 acres to Hoag Memorial Hospital Presbyterian and plans to sell 3.5 acres to HealthSouth Corp.
The retail project already has leases and commitments for 80% of the space, in advance of the ground breaking later this month. Anchored by a 44,000 square-foot Stater Bros. Market, the 112,000 square-foot center will be the 11th property for Regency Centers in Orange County.
Regency Centers’ John Mehigan says, “We are going to create something special here. We’ve spent a lot time making sure this will be a place that our neighbors are proud of and can make their own.”
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