PHOENIX—CBRE has completed the sale of the Phillips-Edison Fund IV Portfolio. The nine-property retail portfolio sold for $150 million and totals over 1.35 million square feet. It includes grocery-anchored Village Center in Phoenix.

Jesse Goldsmith and Steve Julius of CBRE in Phoenix, along with Christian Williams and Gleb Lvovich of CBRE's National Retail Investment Group, negotiated the sale between the seller, Cincinnati-based Phillips Edison Shopping Center Fund IV REIT, LLC and the buyer, Newquest-Epic Investments, LLC of Austin.

Arizona retail investment specialists, Jesse Goldsmith and Steve Julius focused heavily on the portfolios' Phoenix asset, the Village Center, located at 4304 E. Cactus Rd. in the Paradise Valley submarket. The 159,425-square-foot retail center is anchored by a Target and sits directly west of Paradise Valley Mall.