Business & Tech
Burnt Mills Shopping Center Changes Hands
The shopping center on Route 29 is home to a Trader Joe's.
Out with the old, in with the new for The Shoppes at Burnt Mills on Route 29.
Regency Centers, a national property owner, operator and developer, recently purchased the Silver Spring shopping center with a co-investment partner for $13.6 million, the company announced.
Regency takes over from Bethesda-based Finmarc Management, Inc.
Devin Corini, Regency's vice president of investments, had high praise for Finmarc. "This was developed by a local developer that we know well," he said. "We knew we were getting a first-class property."
Tenants at the 31,316 sq. ft. property include Trader Joe's, Starbucks and California Tortilla.
Regency also owns the Woodmoor Shopping Center, located a few minutes south on Rt. 29, at the intersection with University Boulevard.
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