EVANSVILLE, Ind. — Regency Properties, a commercial real estate company specializing in County Seat Communities, received the 2024 Preble County Community Improvement Award for initiatives at Eaton Center that added new retailers and that modernized the appearance and functionality of the property. The award was received by Regency Properties at the Preble County Chamber of Commerce Annual Gala on January 18, 2024.
The Preble County Chamber of Commerce recognized Regency Properties’ investment and interest in the community of Eaton, Ohio and noted that without the contributions and hard work of the Regency Properties team, the accomplishments at Eaton Center would not have been possible.
“The award recognizes the unwavering commitment and collaborative efforts of individuals, organizations, and businesses dedicated to enhancing and improving our neighborhoods. Regency has done much to improve the look of a well-traveled shopping center in Preble County,” stated Justin Sommer, Economic Development Director at the Preble County Chamber of Commerce.
“Since the acquisition of the property, they have renovated the facilities including upgrades to the parking lot, roof, façade, and brought in new tenants including the recent addition of Goodwill. This company is a deserving candidate for this year’s community improvement award, and we appreciate the work that they’ve done to improve an important retail center in our community.”
Regency acquired the 135,223-square-foot Eaton Center in December 2022.
“Regency Properties is honored to receive this award and enthusiastic for more exciting things to come,” said Kevin Hammett, President and Chief Executive Officer. “Investing in County Seat Communities is what Regency prides itself in. Eaton, OH is an ideal example of what can be achieved by satisfying the wants and needs of a community.”
Hammett added that Regency Properties’ professionals work as a team to deliver the best value for tenants, investors, and communities by enhancing the communities they serve.
At the time of acquisition, the center’s lead tenants were Tractor Supply, Kroger, and Auto Zone; but the center’s vacancy was 29.38%. Within nine months after the acquisition, Regency signed leases with Goodwill, Gaia’s Blessings, and Penn Station, to improve the tenant mix and, in the process, lower the vacancy to 19.51%.
