Three centers to become one in Connecticut

Compo Shopping Centers, a 76,000-sq.-ft. property in Westport, Conn. that’s made up of two distinct destinations, will soon be joined with a third center and become one.

Sound confusing?

Regency Centers, one of the nation’s largest owner-operators of grocery-anchored and open-air centers, has acquired the property and will integrate Compo I & II with its adjacent center, Compo Acres. Together, they will be known as Compo Acres Shopping Center, and will make up nearly 120,000 sq. ft. of retail along Post Road and just minutes from downtown Westport.

“This center is a natural fit into Regency’s expertise and ability, not to mention our existing center across the street,” said Jack deVilliers, senior market officer and senior VP for Regency Centers. “We have had so much activity in this market, and for good reason. The communities, the quality of centers, and the opportunity to bring a time-tested strategy to those environments is what we pride ourselves on. It’s why we planted our flag here and continue to call this place home.”

Compo Shopping Centers is anchored by a CVS Pharmacy, and features a wide variety of tenants including banks, restaurants, fitness centers, and a nail salon.

“Compo Shopping Center has been family-owned for three generations and we look forward to being the next steward of this asset,” said Barry Argalas, managing director of transactions for Regency Centers. “We intend to enhance the center’s connection with the community while looking for additional acquisition opportunities that align with our investment strategy.”

Regency Centers owns and manages 482 centers comprising more than 61 million sq. ft. of retail real estate space around the U.S.