CBRE’s National Retail Investment Group has been selected to market the Phillips-Edison Fund IV Portfolio. The nine-property retail portfolio contains properties in six states and totals over 1.35 million square feet.
Jesse Goldsmith and Steve Julius of CBRE in Phoenix, Ariz., along with Christian Williams and Gleb Lvovich of CBRE’s National Retail Investment Group, have been retained to market the portfolio.
The portfolio contains one Phoenix property, Village Center, which is located at 4304 E. Cactus Rd. in the Paradise Valley submarket. The 159,425-square-foot retail center is anchored by a Target and sits directly west of Paradise Valley Mall.
“Village center offers investors a chance to purchase a high performing Target store on a below market ground lease,” said CBRE”s Goldsmith. “Village Center, along with the two properties in Oregon, is a class A asset, which makes this portfolio a unique opportunity as there is a lack of class A product currently on the market.”
The Phillips-Edison Fund IV Portfolio includes nine retail centers across six states. These include Village Center in Phoenix, Ariz.; Prairie Point and Glidden Crossing in Aurora and DeKalb, Ill., respectively; Marketplace in Independence, Mo.; Deerfield Place and Plaza North in Omaha, Neb.; Silver State in Sparks, Nev.; and Johnson Creek and Hermiston Plaza in Happy Valley and Hermiston, Ore., respectively. Six of the properties are grocery anchored. The properties must be purchased as a portfolio and are not available separately.