EATON — Regency Commercial Associates, a commercial real estate company specializing in county seat communities, announced recently the acquisition of Eaton Center located in Eaton.
Eaton Center is a 134,423 square foot retail shopping center that is located in Eaton, with a variety of national and local retailers including Tractor Supply, Kroger, and AutoZone. Regency plans on renovating the shopping center which will include upgrades to the parking lot, roof, and façade.
This shopping center is the first acquisition in Regency’s newly created CSP Fund II. The Fund’s objective is to create a diversified portfolio of community retail shopping centers anchored or shadow anchored by grocery and big-box tenants. These centers are located in communities that are generally outside of major metropolitan areas, have trade area populations greater than 10,000, and are the center of economic and/or government activity for the surrounding area. The company refers to these areas as “county seat” communities and identifies this strategy as the County Seat Program (“CSP.”) The Fund’s goal is to continue Regency’s successful County Seat Program which increases the profitability and market value of each acquired retail shopping center through renovation, re-tenanting, and repositioning.
“We are excited to have closed on the first property for our new fund,” stated Chris Folz, Vice President of Asset Management and Finance. “Eaton Center is a great fit for our County Seat Program, and we are eager to get started with the improvements to the property.”
Founded in 1949, Regency Properties specializes in acquiring, renovating, and managing shopping centers in small and mid-sized communities. Regency owns over 6.15 million square feet of retail shopping center space in 19 states.