Salt Lake City – October 2, 2013 – The Salt Lake City office of CBRE announced today that Phillips Edison & Company has sold Richfield Plaza, a retail center in Richfield, Utah. Eli Mills and Tucker White—members of CBRE Investment Properties—represented Phillips Edison in the transaction.
Located at 1080 South and U.S. Highway 89 in Richfield, the 112,954-square-foot shopping center is currently 98% occupied with nine tenants, the anchor being Kmart.
“Richfield Plaza is a stable investment with a great potential future upside“, stated Tucker White, senior associate. “The city of Richfield has a larger population than any of the surrounding cities within Sevier County. It is known as a regional retail hub with a steadily-increasing retail base, which will serve the new owner well.”
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