New Jersey group buys Alco Plaza
A New Jersey investment sales group recently closed the sale of a retail center in Brewton.
Holliday Fenoglio Fowler, L.P (HFF) investment sales group purchased Alco Plaza for an undisclosed amount. The 42,000 square foot strip center, located at 411-471 South Boulevard, includes several major tenants including Dollar General and Subway.
HFF also closed the sale of two other retail centers in Meridian, Miss. and DeFuniak Spring, Fla. HFF managing directors Pete Nicoletti and Joe Garibaldi marketed the property exclusively on behalf of The Guardian Life Insurance Company of America, which is the fourth largest mutual life insurance company in the United States.
Equity Investment Group purchased the 100 percent fee interested in the properties free and clear of existing debt. HFF operates 17 offices nationwide, and in combination with affiliate HFF Securities L.P., is a dominant real estate investment banking firm.
HFF offers clients a full range of capital solutions and services including debt, equity, financial advisory, investment sales, note sales and loan servicing. Since 1998 the firm has completed close to $113 billion in transactions in all markets and property types.