Built in 1989 on the site of a former Sears department store and acquired by Regency Centers in December 2012 for $81.1 million, The Hub Hillcrest Market is a 148,638-square-foot, 10-building mixed-use grocery-anchored shopping center running along 940–1092 University Avenue between Vermont and Tenth. The center's grocery anchors are Ralphs Fresh Fare and Trader Joe's, backed by CVS/Pharmacy, Urban Outfitters, Wells Fargo, and an evolving restaurant lineup inside the 2014 courtyard redevelopment. That $3 million courtyard renovation — the point at which the property dropped the Uptown District name in favor of The Hub (short for Hillcrest Uptown Block) — brought in custom murals by San Diego-based artists, sculptural installations by Chris Puzio and Terry Dixon, and a reworked food-and-beverage courtyard between two inline restaurant bays. Inline tenants include Peet's Coffee, Jamba Juice, Five Guys, Einstein Bros. Bagels, and a rotating pop-up program Regency operates out of a 5,000-square-foot flex suite. The residential component above the retail ties the property to the dense surrounding 92103 housing stock, which gives the center an unusually high daytime-plus-resident population compared to a standard suburban grocery-anchored format. The highest-value asset position is the grocery-anchor rotation itself — Ralphs and Trader Joe's together drive more than half the weekly foot traffic cycling through the 148,000-square-foot footprint, which is how Regency underwrites the rest of the merchant mix.