The Hampshire Companies have disposed of the the 85,078 sqf Mission Hills Shopping Center in Naples, Florida to Phillips Edison & Company. The property is currently 96 percent leased with a recently renovated Winn-Dixie and Anytime Fitness gym serving as the anchor tenants. Currently housing 17 tenants, the asset is located on Mission Hills Drive on just under 19 acres. Bradley Peterson, Whitaker Leonhardt and Michael Brewster of Holliday Fenoglio Fowler represented Hampshire in the transaction. Terms of the sale were not disclosed.
“We acquired the Mission Hills Shopping Center in 2006 and since then have executed our investment strategy and stabilized the asset. We have a strong investment track record and comprehensive strategy for grocery-anchored retail centers in growing markets,” said John Goldsmith, Portfolio Manager for The Hampshire Companies. “Part of that strategy is knowing the right time to sell the asset,” added Igor Derbaremdiker, Director of Dispositions for The Hampshire Companies. “With high market demand and premium pricing for grocery-anchored retail product coupled with Naples’ explosive residential growth, now was the right time to sell to optimize the value for this investment.”
