Regency counts on high traffic to make shopping center a success

More than  200,000 square feet of retail space in Orlando is off the market now that Regency Centers Corp. has purchased Plaza Venezia.

More than  200,000 square feet of retail space in Orlando is off the market now that Regency Centers Corp. has purchased Plaza Venezia.

The acquisition continues Regency's pattern of developing its holdings with “grocery-anchored shopping centers,” according to a Dec. 21 press release announcing the sale.

Grocery chain Publix is a key tenant in Plaza Venezia, which relies on nearby attractions to draw shoppers.

“Plaza Venezia serves the affluent Doctor Phillips and Bay Hill submarkets, and further benefits from strong daytime and evening traffic,” Senior Vice President of National Transactions Barry Argalas said in the release. “The combination of these factors creates a thriving retail environment for tenants at the center and enhances the opportunity for future growth.”

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