MIAMI—The Sunshine State Portfolio, a group of five high-quality grocery-anchored neighborhood shopping centers in south, central, and north Florida spanning 347,478 square feet, has traded hands. The sale price was $64 million.

Phillips Edison-ARC Shopping Center REIT acquired the properties. CBRE's Casey Rosen, Dennis Carson, and Cliff Taylor represented the undisclosed seller.

“The buyer was looking for high-quality neighborhood shopping centers, and the Sunshine State Retail Portfolio fit these criteria perfectly,” says CBRE senior vice president Rosen of the firm's National Retail Investment Group. “These assets have proven track records and are very well positioned for long-term-success in their trade.”