Phillips Edison buys Jacksonville Center for $25 million

Phillips Edison has acquired the Harbour Village Shopping Center in Jacksonville for an estimated $24.9 million, according to the Jacksonville Business Journal.



The center was sold by a joint venture of MMG Equity Partners and Global Fund Investments, which purchased it in a foreclosure sale for $12.6 million in 2011. At that time, Harbour Village was 86% occupied.



Phillips Edison, which owns more than 280 retail properties nationwide, is a major player in grocery-anchored centers. Harbour Village’s lead tenant is Fresh Market.



Dennis Carson and Casey Rosen, senior VPs of CBRE’s National Retail Investment Group Florida team, handled the transaction for the joint venture.