The Board of Directors
Regency Realty Corporation:

     We  consent  to  the   incorporation   by  reference  in  the  registration
statements,  (No.  33-86886,  No.  333-930,  No.  333-2546,  No.  333-31077  No.
333-37911,  No.  333-52089)  on Form S-3 and (No.  333-24971)  on Form  S-8,  of
Regency Realty Corporation of our report dated September 9, 1998 with respect to
the Statement of Revenues and Certain Expenses of Pike Creek Shopping Center for
the year ended December 31, 1997 which report appears in the Form 8-K of Regency
Realty Corporation dated October 7, 1998.

                                                   KPMG PEAT MARWICK LLP



October 7, 1998
Jacksonville, Florida