Albanese Cormier Holdings has expanded into the state of Utah with the successful acquisition of Cedar South Shopping Center in Cedar City, Utah. The shopping center, previously owned by national REIT Phillips Edison & Company, was purchased for an undisclosed sum in late August, 2015. Eric Wohl of Hanley Investments represented the buyer in the purchase.
Cedar South Shopping Center is a 118,319 square foot shopping center anchored by Bealls, TJ Maxx, Dollar Tree and Staples. Cedar South is the only retail hub between Provo and St. George, creating a large trade area with a higher-than-average household income.
The city is home to Southern Utah University, which serves more than 7,500 students and more than 400 faculty. In addition, the area’s average household income exceeds $52,000. Cedar South Shopping Center benefits from direct roadway visibility, great accessibility and high traffic counts coming from South Main Street/Highway 130.
This is Albanese Cormier Holdings’ first property in the state of Utah.
ALBANESE CORMIER HOLDINGS
Albanese Cormier Holdings is a commercial real estate development company currently holding more than 3 million square feet of strategically placed assets throughout sixteen states nationwide. For more information about our company or on any other property within the ACH portfolio, please visit www.AlbaneseCormier.com or contact the main office at (409) 892-0200.