Regency Centers Corp began its operations as a REIT in 1993 and is the managing general partner of Regency Centers, L.P. It is a grocery-anchored shopping center company. As of year end 2013, the company directly owned 202 shopping centers, located in 23 states representing 22.5 million square feet of gross leasable area (GLA). Through co-investment partnerships, it owns partial ownership interests in 126 shopping centers located in 23 states and the District of Columbia representing 15.5 million square feet of GLA. It leases space in its shopping centers to grocery stores, major retail anchors, restaurants, side-shop retailers, and service providers, as well as ground leasing or selling building pads to these same types of tenants. It competes with companies engaged in the ownership, development, acquisition, and operation of shopping centers, including grocery store chains that also anchor some of our shopping centers. Under various federal, state and local laws, ordinances and regulations, the Company may be liable for the cost to remove or remediate certain hazardous or toxic substances at its shopping centers.