JACKSONVILLE,FL-Phillips Edison & Company has sold Pablo Plaza to Equity One for $19.34 million. Equity One also assumed an existing CMBS loan on the 151,660-square-foot retail community center in Jacksonville Beach.

Brad Peterson, managing director of the Miami office of Holliday Fenoglio Fowler (HFF) marketed the property on behalf of Phillips Edison, a privately held real estate company with corporate offices in Cincinnati and Salt Lake City. Peterson tells GlobeSt.com that the center attracted strong interest from the investment community because of high-quality anchor tenants, desirable demographics, and significant barriers to entry surrounding the property.

“This asset is one of the first non-grocery retail asset sales since the capital market conditions improved,” Peterson says. “Buyers are back on offense. We had well north of 100 top tier investors reviewing this offering and more than a dozen offers from top tiers REITs and pension funds and foreign capital and operators with institutional partners.”