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| 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
MONAGHAN COMMUNICATIONS,
INC.
830.997.0963
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