Oakbrook Terrace, Ill. — Mid-America Real Estate Corp. has brokered the sale of two centers on behalf of Retail Properties of America.
First, Phillips Edison & Company purchased the 134,229-sq.-ft. Duck Creek Plaza in Bettendorf, Iowa, for $19.7 million. Schnucks and Marshalls anchor Duck Creek Plaza, and Home Depot serves as a shadow anchor. Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate — Iowa LLC brokered the transaction exclusively on behalf of RPAI.
Mid-America also represented RPAI in the sale of the 70,747-sq.-ft. Paradise Shoppes of Warner Robins in Kathleen, Ga., for $10.6 million. The center’s anchor, Publix, was also the buyer. Mid-America in cooperation with The Shopping Center Group were the seller’s exclusive brokers in the transaction.