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 ended 2015, the Company directly owned 200 retail shopping centers and held partial interests in an additional 118 retail shopping centers through investments in real estate partnerships. It leases space in its shopping centers to grocery stores, 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 its 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.