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DeRidder's Park Terrace Shopping Center has new owner

DERIDDER -- The Park Terrace Shopping Center in DeRidder has a new owner.
Regency Properties has acquired the 128,000-square-foot center, according to a news release.

The Indiana-based company has expansion plans for the center.

"In 2014, Regency will invest an additional half million dollars to renovate and upgrade the center. With this renovation, Regency expects to draw new national  and regional tenants to the market," the release states. “With a population of approximately 10,000 and convenient access along Highway 171, DeRidder and Park Terrace provide a strong fit for Regency’s acquisition criteria and unique industry focus on county seat communities,” said Kevin Hammett, Regency president and CEO. “We are delighted to expand our service area into Louisiana.”

Company officials say the acquisition of Park Terrace expands the Regency footprint to 10 states, located in the Midwest and Southeast.
Filed Under :
Topics : Business_Finance
Location : IndianaLouisiana
People : Kevin Hammett
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12/26/2013 3:47PM
DeRidder's Park Terrace Shopping Center has new owner
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