CBRE announced the sale of a nine-property retail portfolio for the Phillips-Edison Fund IV Portfolio to NewQuest Epic Investments. The 1.35 million square foot portfolio spanned over six states.
The nine sites are grocery store locations in neighborhood and community centers, which house tenants such as Target, Mariano’s, Trader Joe’s, Safeway, Price Chopper and Baker’s.
“This transaction allowed Phillips Edison to successfully close out their Fund IV. The portfolio was geographically diverse, but fit strategically within the growth parameters for NewQuest Epic Investments,” said CBRE’s Christian Williams.
CBRE’s Christian Williams and George Good lead the team representing the owner, which also included Jesse Goldsmith (Phoenix, Arizona) and Gleb Lvovich (Newport Beach, California).
