CINCINNATI--(BUSINESS WIRE)--Phillips Edison Grocery Center REIT II, Inc. (the “Company”) today announced the strategic acquisition of six grocery-anchored shopping centers, expanding the Company’s portfolio in Florida, Massachusetts, Connecticut, Texas and Nevada.
Crosscreek Village is a 66,660 square foot grocery store-anchored shopping center in St. Cloud, Florida, a suburb 25 miles south of Orlando. The center is anchored by Publix, the number one grocer by market share in the Orlando area. Crosscreek Village also features national tenants Subway and Anytime Fitness.
Shaw’s Plaza is a 175,842 square foot grocery store-anchored shopping center in Raynham, Massachusetts, a suburb 30 miles south of Boston. This acquisition adds the first Shaw’s grocery-anchored shopping center to the Company’s portfolio. Shaw’s Plaza also features national and regional tenants Jo-Ann Fabrics, Marshalls, CVS, Sovereign Bank Dress Barn, Gamestop, Panera Bread, Bank of America, PetSmart, SuperCuts, GNC, Sprint and Cardi’s Furniture.
Montville Commons is a 117,916 square foot grocery store-anchored shopping center in Montville, Connecticut. The center is anchored by Stop & Shop, the number one grocer by market share in the Hartford area. Montville Commons also features national tenants Anytime Fitness, Subway, Sweet Frog, Sleep’s, Hair Cuttery, Gamestop, GNC, Chili’s Bar & Grill and AT&T.
McKinney Market Street is a 88,389 square foot grocery store-anchored shopping center in McKinney, Texas, a suburb 33 miles north of Dallas. The center is anchored by Market Street, a leading grocer in the Dallas area. McKinney Market Street also features national and regional tenants State Farm Insurance and Massage Heights.
Suntree Square is a 99,269 square foot grocery store-anchored shopping center in Southlake, Texas, a suburb 26 miles northwest of Dallas. This acquisition adds the first Tom Thumb grocery-anchored shopping center to the Company’s portfolio. Suntree Square also features national and regional tenants Massage Heights, Brain Balance, Earthwise Pet Supply, Subway, European Wax Center, Pizza Hut and Starbucks.
Green Valley Plaza is a 89,332 square foot grocery store-anchored shopping center in Henderson, Nevada, a suburb 15 miles south of downtown Las Vegas. The center is anchored by Trader Joe’s, a leading grocer in the fresh format category. Green Valley Plaza also features national and regional tenants Big 5, Bank of America, the UPS Store, Lifesource Whole-House Water, U.S. Post Office, Avis Rent a Car, Dollar Tree, Family Music Center and Subway.
The Company’s sponsor, Phillips Edison, has a robust acquisitions pipeline managed by a national, in-house acquisitions team from which it continues to source opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
About Phillips Edison Grocery Center REIT II, Inc.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. As of June 6, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 69 grocery-anchored shopping centers totaling 8.5 million square feet of gross leasable area. For more information on the Company, please visit the website at www.grocerycenterREIT2.com.
This press release contains forward-looking statements about the Company’s business, including, in particular, statements about its pipeline, plans, strategies and objectives. You can generally identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. You should not rely on these forward-looking statements because the matters they describe are subject to the factors detailed under Risk Factors in the Company’s most recent Form 10-K and subsequent Forms 10-Q on file with the Securities and Exchange Commission as well as other known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company’s control. The Company’s actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.