Regency Centers sells San Diego shopping center for $125M

Regency Centers Corp. sold Costa Verde Center, a shopping center in San Diego, to another public real estate investment trust in a $125 million transaction that closed Jan. 11.

The property will be used for the proposed development of office/laboratory space.

During the fourth quarter of 2021, the shopping center REIT completed the sales of Sequoia Station in Redwood City, Calif., for $73 million and the Marina Shores property in Long Beach, Calif., in which it owned a 20% stake, for $14 million at its share.

Also during the period, Regency purchased a portfolio of four grocery-anchored neighborhood centers totaling 387,000 square feet in Long Island, N.Y., for $130 million. It also acquired the 383,000-square-foot Blakeney Shopping Center, a grocery-anchored community center in south Charlotte, N.C., for $181 million.