Newquest Purchases $150 Million Retail Portfolio from Phillips-Edison

Phoenix – The 159,425-square-foot Village Center retail center in Phoenix is anchored by a Target and sits directly west of Paradise Valley Mall.

The Village Center in Phoenix is anchored by a Target store.Phoenix – Newquest-Epic Investments LLC has acquired nine retail properties in six states from Phillips-Edison Shopping Center Fund IV REIT LLC for $150 million. Known as the Phillips-Edison Fund IV portfolio, the properties total more than 1.35 million square feet. Jesse Goldsmith and Steve Julie of CBRE’s Phoenix office, along with Christian Williams and Gleb Lvovich of CBRE’s National Retail Investment Group, negotiated the transaction between Austin, Texas-based Newquest-Epic and Cincinnati-based Phillips-Edison. Goldsmith and Julie focused on the portfolio’s Phoenix asset, the Village Center, located 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.

   — Haisten Willis

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