CINCINNATI--(BUSINESS WIRE)--Phillips Edison & Company (the “Company”) today announced the strategic acquisition of six grocery-anchored shopping centers on behalf its two managed non-traded REITs, Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II. The acquisitions total approximately 600,000 square feet in four states: California, Florida, Georgia, and Illinois.
Riverlakes Village is a 92,211 square foot grocery-anchored center in Bakersfield, California. Anchored by Vons, a banner of Albertsons, Riverlakes Village also features national tenants Chipotle, Starbucks, US Bank, Verizon Wireless, Supercuts, and H&R Block.
Sierra del Oro Towne Center is a 110,004 square foot grocery-anchored center in Corona, California, located less than 50 miles from Los Angeles. Anchored by Ralph’s Supermarket, a banner of Kroger, the center also features national tenants Bank of America, Kumon Learning Center, Domino’s and Anytime Fitness.
St. John’s Plaza is a 117,507 square foot grocery-anchored shopping center in Titusville, Florida, part of Florida’s Space Coast. Anchored by Publix, St. John’s Plaza also features national tenants Hair Cuttery, Sally Beauty Supply, Dollar Tree and Cricket Wireless.
Ormond Beach Mall is a 94,275 square foot grocery-anchored shopping center in Ormond Beach, Florida. Anchored by Publix, Ormond Beach Mall also features national tenants Wells Fargo and Dollar Tree.
Golden Park Village is a 68,278 square foot grocery-anchored shopping center in Buford, Georgia, 40 miles northeast of Atlanta. Golden Park Village is anchored by Publix and includes national tenants Great Clips and The UPS Store.
Frankfort Crossing Shopping Center is a 114,534 square foot grocery-anchored shopping center in Frankfort, Illinois, a suburb of Chicago. Frankfort Crossing is anchored by Jewel-Osco, a banner of Albertsons, and additional national tenants include Anytime Fitness, The UPS Store, Papa John's Pizza and US Bank.
“Our highly experienced team of acquisitions professionals has been very busy this summer sourcing and closing high quality grocery-anchored shopping properties. These recent acquisitions continue to support our strategy to diversify by geography, grocery anchor, and tenant type and industry,” said David Wik, Senior Vice President, Acquisitions.
About Phillips Edison & Company
Since 1991, Phillips Edison & Company has focused on the grocery-anchored shopping center sector. The company has a fully integrated in-house operating platform built on market leading expertise designed to optimize property value and consistently deliver a great shopping experience. Led by a veteran management team, Phillips Edison’s operating platform provides retail services including acquisition, redevelopment, leasing and management of grocery-anchored retail centers. The company manages retail properties across a national footprint. The company has corporate offices in Cincinnati, Salt Lake City, New York City and Atlanta. For more information, please visit www.phillipsedison.com or connect with us on LinkedIn.
