ATLANTA, GA – HFF announced today that it has closed the sale of Rivergate Shopping Center, a 207,567-square-foot retail center in Macon, Georgia.
HFF represented the seller, Nightingale Group, LLC in the sale of the property to Phillips Edison-ARC Shopping Center REIT Inc.
Rivergate Shopping Center is located at the Interstate 75 and Tom Hill Sr. Boulevard interchange along the Interstate 75/North Macon retail corridor. Renovated most recently in 2012, the center is 84 percent leased and anchored by Publix, Planet Fitness and Dollar Tree. The center also includes several outbuildings and outparcels, which are 100 percent leased to tenants such as Batteries Plus, Buffalo Wild Wings, Dunkin Donuts, IHOP, Panera Bread Starbucks and Subway.
The HFF team representing the seller was led by managing directors Richard Reid and Jim Hamilton.
The Nightingale Group, LLC is a privately held, vertically integrated real estate firm. Founded in 2005, Nightingale deploys capital on behalf of its investors through specific and nonspecific investments. Primarily, Nightingale seeks value-oriented investments with repositioning or redevelopment opportunities in core and non-core markets across the United States. Headquartered in New York City, Nightingale’s portfolio holdings currently span across nine states with more than 5.8 million square feet of office and retail commercial space under management.
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 July 18, 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 48 grocery-anchored shopping centers totaling 5,159,219 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. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.