Phillips Edison REIT buys Oakhurst Plaza

BUYER: Oakhurst Plaza Station LLC (Phillips Edison & Co.), Cincinnati
SELLER: One Bayshore LLC
PROPERTY: 9201 and 9370 Oakhurst Road, Seminole
PRICE: $6.18 million
PREVIOUS PRICE: $2.81 million, September 2000

PLANS, DESCRIPTION:
Phillips Edison Grocery Center REIT II Inc. purchased the 51,502-square-foot retail real estate of Oakhurst Plaza for $6.18 million.

The price equated to $120 per square foot. That figure is lower than the two-year average price per square foot for retail space ($129) in the Tampa Bay area, according to the CoStar Group.

Phillips Edison says the total purchase price for the center was $6.3 million, equal to $122 per square foot.

The shopping center is anchored by a 27,880-square-foot Publix grocery store. The center was 84% leased at the time of the sale.

The buyer's sponsor, Phillips Edison, focuses its acquisitions on grocery-anchored shopping centers. It will manage Oakhurst Plaza.