REGENCY PURCHASES WHOLE FOODS-ANCHORED CENTER FOR $21M

MINNEAPOLIS — Regency Centers has purchased Calhoun Commons, a 66,150-square-foot neighborhood retail center located in Minneapolis, for $21 million. The property was acquired in an off-market deal from Doran Companies, the center's original developer. Constructed in 1999, the fully leased center is anchored by Whole Foods Market. Additional tenants include Chipotle Mexican Grill, Caribou Coffee, Ben & Jerry's, and Noodles & Company. More than 94 percent of the gross leasable area is is occupied by first-generation tenants. Regency currently owns four retail centers in the Minneapolis market totaling more than 550,000 square feet and has a fifth center under contract.