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Iowa center sells for $5.5 million


Quincy Plaza in Ottumwa, Iowa, was purchased by Beaumont, Texas-based Albanese Cormier Holdings for $5.5 million. Mid-America Real Estate brokered the deal on behalf of a fund managed by Cincinnati-based Phillips Edison.

The 137,389-sq.-ft center is anchored by Kmart, Hobby Lobby, and Rent-A-Center in the southern Iowa retail hub on the Des Moines River. Quincy Plaza is located across the roadway from Target and the Quincy Place Mall.

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