CAMPBELL — The Pruneyard retail complex has been bought by one of the nation’s biggest shopping center companies, a deal that comes on the heels of a major renovation orchestrated by recent owner Ellis Partners.

Regency Centers, a Florida-based owner of more than 400 retail complexes, has bought the 15.9-acre Silicon Valley landmark, located near the northwest corner of South Bascom Avenue and East Campbell Avenue.

Acting through an affiliate, Regency Centers paid $212.5 million for the Pruneyard, according to Santa Clara County public documents that were filed on July 1.

“The Pruneyard is an iconic destination, and an opportunity to be a part of something like this doesn’t come along very often,” said Craig Ramey, a managing director with Regency Centers. “We’re aware of the rich history of this center.”

The center, perched along Highway 17 and near downtown Campbell, was originally built in the 1960s.

The affiliate, Pruneyard Regency, paid cash for the complex, which totals 258,000 square feet of retail and restaurants, the county documents indicate.

The sale by an affiliate of Ellis Partners, a San Francisco-based development and real estate investment firm, occurred after a wide-ranging revival of the Pruneyard. Ellis will retain a minority interest in the retail center and will provide operating services to new owner Regency Centers.

“We have invested a significant amount of money and time and effort to re-merchandise, renovate, and reposition this property,” said Jim Ellis, a managing principal with Ellis Partners. “This transaction really culminates our efforts.”

The Ellis-led transformation included a facelift of the Pruneyard Cinemas, which has re-opened with luxury recliner seating, in-theater dining, a new restaurant, and neighborhood bar.

The Pruneyard also attracted a host of new merchants due to the renovation.

Among the tenants being added to the retail and restaurant portion of the Pruneyard: an expansion of the popular Trader Joe’s store; Asian Box, an Asian Street food outlet; Burger Lounge, which features grass-burgers and organic salads; Teaspoon, a beverage, boba tea, and shaved ice establishment; V’s Barbershop; and Books Inc., a long-time independent bookseller.

Mendocino Farms, an artisan sandwich market; and Tin Pot Creamery, an organic ice cream shop, also have opened.

Plus, sometime this year, Luna, a family-run Mexican restaurant, is slated to open its second South Bay restaurant. A premium steak house, Be.Steak.A., also has signed a lease at the Pruneyard.

“We’ve had a lot of excitement and success surround the tenant openings so far,” Ellis said. “There is more work to do at the Pruneyard and we are excited to do that in collaboration with Regency.”

Ellis Partners also added a series of open areas in the complex, including a community plaza.

“The property, which began a major renovation in January 2017, has been reimagined into a community gathering place,” according to a post on the Ellis Partners web site.

In separate transactions earlier this year, Ellis Partners also sold a hotel and a portion of its stake in three office buildings totaling 365,000 square feet that are next to the Pruneyard retail center.

In February, through a $141.5 million deal, Ellis Partners brought in Oaktree Capital Partners as a majority owner for the three office buildings and a plot of land where a fourth office tower could be built.

In March, Somera Capital Management paid $59.1 million for the 169-room DoubleTree by Hilton Hotel Campbell Pruneyard Plaza, which was sold by a venture of Ellis Partners and Campbell Tyler Pacific.

With the most recent deal involving the retail portion of the Pruneyard, a veteran shopping center firm takes the helm of the complex.

“We want to ensure that The Pruneyard continues to build on its recognized position as a premier retail destination in Silicon Valley,” Ramey, the Regency Centers executive, said.