The Hampshire Companies Sells Mission Hills Shopping Center in Naples, Florida to Phillips Edison Grocery Center REIT II

HFF closes sale of grocery-anchored shopping center in Naples, Florida.

November 1, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Mission Hills Shopping Center, an 85,078-square-foot, Winn-Dixie-anchored shopping center in Naples, Florida.

HFF arranged the sale on behalf of the seller, The Hampshire Companies. Phillips Edison Grocery Center REIT II, Inc. purchased the asset free and clear of existing debt.

Mission Hills Shopping Center is situated at the intersection of Collier Boulevard and Vanderbilt Beach Road in northeast Naples, one of the area’s fastest growing corridors. In a submarket known for its amenity-rich neighborhoods and golf-course communities, there are approximately 33,400 residents with an average household income of nearly $100,000 within a three-mile radius of the property and 3,000 additional homes currently under construction. Traffic counts for the intersection total more than 54,000 cars per day. In addition to anchor tenant Winn-Dixie, the 96.6-percent-leased property is home to 14 other tenants, including Anytime Fitness, Subway and AT&T.

The HFF investment sales team representing the seller was led by senior managing director Brad Peterson and associate director Whitaker Leonhardt.

“Mission Hills is a great shopping center asset benefitting from its well-performing, necessity-grocer anchor tenant and its location in East Naples, one of Florida’s most rapidly-growing regions,” said Leonhardt. “This acquisition, which was highly sought after from a variety of institutional and private investors, is representative of an asset with such an advantageous location and tenancy. Southwest Florida continues to realize impressive residential and job growth, a trend we expect to continue.”

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