Hanley Investment Group Arranges Sale of Four Retail Centers for $24 Million

Irvine, Calif. — Irvine, California-based Hanley Investment Group has arranged the purchase of four shopping centers for Phillips Edison & Co. totaling 372,000 square feet for $24 million.

Sold assets include Sandy Marketplace, a 100,762-square-foot grocery- and drug-anchored center located in Portland, Oregon; Ferry Pass Plaza, a 115,198-square-foot shopping center located in Pensacola, Florida; Rivergate Square, an 82,088-square-foot center located in Madison, Tennessee; and Cross Pointe Marketplace, a 73,788-square-foot grocery-anchored center located in Chesterfield, Virginia. Buyers for the properties were undisclosed.