Done Deals: HFF announces sale of grocery-anchored retail center in Davenport, Iowa

Sunday, September 30, 2018

HFF announces sale of grocery-anchored retail center in Davenport, Iowa

Kimberly West Shopping Center, Davenport, IA

CHICAGO, IL – – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Kimberly West Shopping Center, a 113,713-square-foot shopping center anchored by Hy-Vee in the Quad City of Davenport, Iowa.

The HFF team marketed the property on behalf of the seller, Brixmor Property Group. Equity Investment Group purchased the asset.

Amy Sands

Kimberly West Shopping Center is anchored by Hy-Vee, the No. 1 market-share grocer in Iowa. The 87.8-percent-leased center is also home to an internet-resistant tenant lineup, including Great Clips, Tony’s Chicago Style Pizzeria, Rent-A-Center, Citizens Finance Co., Amana Medical Care and Lily Massage.

Situated on 15.6 acres at 2142 West Kimberly Road in Davenport the hub of the metropolitan Quad Cities and located halfway between Chicago and Des Moines.

Clinton Mitchell

Kimberly West Shopping Center is along the Kimberly Road Corridor, Davenport’s dominant retail corridor, and is visible to approximately 22,400 vehicles per day.

About 75,000 residents live within a three-mile radius of the center, which is 2.5 miles from Macerich NorthPark Mall, the third largest mall in Iowa.

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell along with managing director Jules Sherwood, a licensed Iowa real estate broker.

About Brixmor Property Group

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers.

Its 471 retail centers comprise approximately 80 million square feet of prime retail space in established trade areas.

The company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.

Jules Sherwood

Equity Investment Group, Inc., with its affiliates, is a diversified, private investment and holding company with three decades of successfully investing in and managing commercial real estate and operating businesses.

EIG was founded by its President and CEO, George Huber.

Visit http://www.equityinvestmentgroup.com for more information.

CONTACTS:

AMY SANDS

IL Lic. #475.138622

HFF Senior Director

(312) 528-3650

asands@hfflp.com

CLINTON MITCHELL

HFF Senior Director

(312) 528-3650

cmitchell@hfflp.com

JULES SHERWOOD