Done Deals: HFF closes sale of three-property HEB & Publix retail portfolio

Wednesday, March 27, 2013

HFF closes sale of three-property HEB & Publix retail portfolio

Brad Peterson

ORLANDO, FL – HFF announced today that it has closed the sale of three grocery-anchored retail centers totaling 276,143 square feet located in suburban communities of Houston, Texas; Columbia, South Carolina; and Tallahassee, Florida.

The properties are: Kleinwood Center, Murray Landing and Vineyard Shopping Center.

HFF marketed the portfolio on behalf of the seller, Charter Hall Retail REIT and Regency Centers Corporation. Phillips Edison-ARC Shopping Center REIT Inc. purchased the offering.

Jim Batjer

The portfolio has an average three-mile population of more than 67,000 residents with an average household income of nearly $104,000. Individual property details are listed below:

Property Year Built Square Feet Occupancy Anchor

Kleinwood Center, Spring, TX, built 20003, 148,963 SF, 92%, anchor HEB

Murray Landing, Irmo, SC, built 2003, 64,359 SF, 100%. Publix

Vineyard Shopping Center, Tallahassee, FL, built 2002, 62,821 SF, 84.7%, Publix

Jim Hamilton

The HFF investment sales team representing the seller was led by senior managing directors Brad Peterson in Orlando and Jim Batjer in Dallas, and managing directors Jim Hamilton in Atlanta and Ryan West in Houston.

According to Peterson, “The scarcity of HEB and Publix offerings, coupled with desirable anchor lease terms and sales performance across the portfolio, presented Phillips Edison-ARC Shopping Center REIT Inc. with a rare opportunity to acquire three high-quality, grocery-anchored centers in a single transaction.”