SALINAS, CA-HFF has closed the sale of Boronda Plaza, a 93,796-square-foot, grocery-anchored retail shopping center in Salinas.
HFF marketed the property on behalf of the seller, Donahue Schriber. Phillips Edison-ARC Shopping Center REIT Inc. successfully purchased the asset free and clear of existing debt amongst a highly competitive field of 20 bidders.
Boronda Plaza is located at 1576 North Sanborn Road at the intersection of East Boronda Road approximately three miles east of Highway 101. Situated on 9.5 acres, the center was built in 2002 and is 95% leased to multiple tenants including anchor tenant Food 4 Less, which occupies 59,412 square feet of space.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
