Phillips Edison Sells Five Shopping Centers Totaling 583,000 SF

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Cincinnati — Cincinnati-based Phillips Edison & Company has sold five shopping centers totaling 583,000 square feet to Albanese Cormier Holdings.

Dispositions include Quincy Plaza, a 141,816-square-foot, Hobby Lobby-anchored shopping center located in Ottumwa, Iowa; Kokomo Plaza, an 89,414-square-foot shopping center anchored by Ollie’s Bargain Outlet and Vendor City Antiques in Kokomo, Indiana; Catawba Village, a 59,463-square-foot, Goodwill-anchored shopping center located in Newton, North Carolina; Lakeside Shopping Center, a 184,579-square-foot property anchored by Big Lots, Save-A-Lot, Citi Trends and Family Dollar in Anderson, South Carolina; and Louisa Plaza, a 108,065-square-foot shopping center anchored by Goody’s and Family Dollar in Louisa, Kentucky. The terms of the deal were undisclosed. Eric Wohl of Hanley Investment Group served as the advisor for the transaction.

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