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Richfield — Phillips Edison & Company has sold Richfield Plaza, a retail center in Richfield.
Located at 1080 South and U.S. Highway 89 in Richfield, the 112,954-square-foot shopping center is 98 percent occupied with nine tenants, the anchor being Kmart.
Eli Mills and Tucker White, members of CBRE’s Private Capital Group, represented Phillips Edison in the transaction.
“Richfield Plaza is a stable investment with a great potential future upside,” White said. “The city of Richfield has a larger population than any of the surrounding cities within Sevier County. It is known as a regional retail hub with a steadily-increasing retail base, which will serve the new owner well.”