Regency Centers acquires Tech Ridge Center

Austin, Texas -- Jacksonville, Fla.-based Regency Centers said it closed on the acquisition of Tech Ridge Center, an 187,529-sq.-ft. neighborhood shopping located in Austin, Texas, on Sept. 26.

Built in 2001, Tech Ridge Center is anchored by an 84,352-sq.-ft. H-E-B alongside national retailers including Office Depot, Petco, Subway and Massage Envy. The center is 93% occupied.

Tech Ridge Center is the fourth grocery-anchored center acquisition for Regency Centers this year, including Oak Shade Town Center in Davis, Calif., and Calhoun Commons and Rockridge Center in the Minneapolis market. Regency Centers owns 31 properties in Texas, including three centers in Austin totaling 677,000 sq. ft.