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Silver Spring shopping center acquired

Regency Centers Corp., of Jacksonville, Fla., a real estate investment trust that owns, operates and develops grocery-anchored and community shopping centers, closed on the off-market acquisition of Shoppes of Burnt Mills, a 31,316-square-foot neighborhood center in Silver Spring, for a gross purchase price of $13.6 million.

Built in 2004, Shoppes of Burnt Mills is anchored by a 9,306-square-foot Trader Joe’s, as well as other national retailers such as Starbucks, Chico’s and AT&T.

Regency purchased the property with a co-investment partner, which was not identified.

Regency’s share of the purchase price was $2.7 million.

The seller of the property was not named in the company’s announcement of the acquisition.