Tuesday, February 21, 2017

Phillips Edison Sells Five Shopping Centers Totaling 583,000 SF

Eric Wohl
CORONA DEL MAR, CA – Hanley Investment Group, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that in separate transactions Hanley Investment Group's Executive Vice President Eric Wohl served as advisor in bringing the buyer and seller together in the sale of five shopping centers owned by Cincinnati, Ohio-based firm Phillips Edison & Company, one of the nation’s largest owners and managers of grocery-anchored shopping centers.

The buyer was Albanese Cormier Holdings, a commercial real estate investment company based in Beaumont, Texas. The retail properties, which were located in either secondary or tertiary markets, totaled 583,337 square feet.

The properties that traded were Quincy Plaza in Ottumwa, Iowa; Kokomo Plaza in Kokomo, Indiana; Catawba Village in Newton, North Carolina; Lakeside Shopping Center in Anderson, South Carolina; and Louisa Plaza in Louisa, Kentucky.

“Significant demand and competition in core markets continue to compress yields. Investors seeking higher return are looking to non-major markets to meet their investment objectives,” Wohl said.

Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved. For more information, visit www.hanleyinvestment.com.

      For a complete copy of the company’s news release, please contact:

Anne Monaghan

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