Regency Centers has acquired an 80 percent stake in Baederwood Shoppes on the Fairway in Jenkintown, which is anchored by Whole Foods and Planet Fitness, writes Ryan Mulligan for the Philadelphia Business Journal.

The seller was Charter Realty and Development, which bought Baederwood in partnership with Inland Real Estate Group for $44 million in January 2020.

The 116,000-square-foot shopping center has 25 retail tenants in addition to a 41,000-square-foot Whole Foods and 17,000-square-foot Planet Fitness, there is also a Panera Bread, Athleta, and Snap Pizza, along with Citizens Bank and Penn Community Bank branches.

At the time of the sale, the property was 97 percent leased.

The shopping center is situated in a prime location just off of Route 611 near Penn State Abington’s campus.

Regency’s acquisition brings the Florida-based company’s total properties in the Philadelphia region to ten. Among others, it also owns the City Avenue Shopping Center, the Newtown Square Shopping Center, and Gateway Shopping Center in Wayne.

The company is “always looking for more opportunities to grow in the Philadelphia area, New Jersey, and Delaware,” said David Sherin, senior leasing agent at Regency’s Radnor office.

Read more about Baederwood Shoppes in Jenkintown in the Philadelphia Business Journal.