Regency Centers recently announced the acquisition of Baederwood Shopping Center in Jenkintown, PA. Baederwood is a dominant and highly trafficked 116,000-square foot shopping center in the greater Philadelphia metro area. It benefits from a prime position in a high-barrier market, and an established connection to the surrounding communities. This transaction is an 80% interest acquisition by Regency, and also marks the second joint venture partnership between Regency Centers and Charter Realty & Development Corporation. Charter will continue to operate the asset with the partnership of Regency.
Anchored by a 41,000-square foot Whole Foods Market and a 17,000-square foot Planet Fitness, it is currently 97% leased and home to a strong merchandising mix of health, wellness, and necessity-driven operators. It also includes some of the best regional and national brands with regard to dining, apparel, and lifestyle.
Our time-tested strategy has proven to be extremely successful with these types of assets,” said David Sherin, Senior Leasing Agent, Regency Centers. “Regency has great partnerships that we are very proud of, which can provide crucial visibilities to expand our retail footprint in markets where we see potential for growth. We know the value we can bring to community-facing destinations like Baederwood, and are always looking for more opportunities to grow in the Philadelphia area, New Jersey, and Delaware.