HFF Closes Sale of Three-Property HEB & Publix Retail Portfolio

HFF announced that it has closed the sale of three grocery-anchored retail centers totaling 276,143 square feet located in suburban communities of Houston, Texas; Columbia, South Carolina; and Tallahassee, Florida.  The properties are: Kleinwood Center, Murray Landing and Vineyard Shopping Center.

HFF marketed the portfolio on behalf of the seller, Charter Hall Retail REIT and Regency Centers Corporation.  Phillips Edison-ARC Shopping Center REIT Inc. purchased the offering.

The portfolio has an average three-mile population of more than 67,000 residents with an average household income of nearly $104,000.  Individual property details are listed below:

Property: Kleinwood Center, Spring, TX
Square Feet:  148,963 SF  
Occupancy: 92%
Anchor: HEB
Year Built: 2003

Property: Murray Landing, Irmo, SC
Square Feet: 64,359 SF
Occupancy: 100%
Anchor: Publix
Year Built: 2003

Property: Vineyard Shopping Center, allahassee, FL
Square Feet: 62,821 SF
Occupancy: 84.7%
Anchor: Publix
Year Built: 2002

The HFF investment sales team representing the seller was led by senior managing directors Brad Peterson in Orlando and Jim Batjer in Dallas, and managing directors Jim Hamilton in Atlanta and Ryan West in Houston.

According to Peterson, “The scarcity of HEB and Publix offerings, coupled with desirable anchor lease terms and sales performance across the portfolio, presented Phillips Edison-ARC Shopping Center REIT Inc. with a rare opportunity to acquire three high-quality, grocery-anchored centers in a single transaction.”

Regency Centers Corporation is the preeminent national owner, operator and developer of dominant grocery-anchored and community shopping centers.  As of December 31, 2012, the company owned 348 retail properties, including those held in co-investment partnerships.  Including tenant-owned square footage, the portfolio encompassed 46.3 million square feet located in top markets throughout the United States.  Since 2000, Regency has developed 209 shopping centers, including those currently in-process, representing an investment at completion of more than $3 billion.  Operating as a fully-integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

Phillips Edison-ARC Shopping Center REIT Inc. is a public non-traded REIT that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States.  The REIT is co-sponsored by two industry leaders: Phillips Edison & Company, who has acquired more than $1.8 billion in shopping centers throughout the United States, and AR Capital, LLC, a real estate investment program sponsor dedicated to governance best practices.  As of January 21, 2013, Phillips Edison-ARC owned, directly or indirectly through a joint venture in which it has a controlling interest, and managed an institutional quality retail portfolio consisting of 32 grocery-anchored shopping centers totaling 2,997,845 square feet.  For more information on the company, please visit www.phillipsedison-arc.com.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales, and commercial loan servicing.  www.hfflp.com.

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