Phillips Edison Sells 100,486 SF Safeway Center at Lake Powell in Arizona
PAGE, ARIZ. — Cincinnati-based Phillips Edison & Co. has completed the disposition of Safeway Center at Lake Powell, a shopping center located at 608 Elm St. in Page. A private investor from Beverly Hills, Calif., acquired the 100,486-square-foot asset for an undisclosed price.
Safeway anchors the 100,486-square-foot shopping center, which was 93 percent occupied at the time of sale. Other tenants include Stage Stores, Dollar Tree, Hibbett Sports, Verizon Wireless, Domino’s, Subway, Allied Cash Advance, H&R Block and Wells Fargo ATM. The property was built in 1986 and renovated in 1990.
Hanley Investment Real Estate Advisors represented the seller, while Kalen Rickard of Phoenix-based Western Retail Advisors represented the buyer.