CINCINNATI--(BUSINESS WIRE)--Phillips Edison & Company (the “Company”) today announced the strategic acquisition of Mansfield Market Centre, a grocery-anchored shopping center in Mansfield, Texas, by Phillips Edison Grocery Center REIT II, Inc. (“PECO II”), expanding PECO II’s portfolio in Texas.
Mansfield Market Centre is a 55,400 square foot shopping center located in Mansfield, a suburb in the Dallas-Fort Worth region. The Sprouts-anchored center is 97 percent occupied by national and local retailers including Dunkin’ Donuts, Supercuts, Firehouse Subs, Brain Balance, The Lost Cajun, Smoothie King and R Taco.
“PECO II’s acquisition of Mansfield Market Centre and its expansion in the Texas market strengthens our existing portfolio and highlights our strategy of managing high quality and demographically sound grocery-anchored shopping centers,” said David Wik, Senior Vice President of Acquisitions at the Company. “We look forward to demonstrating our market leading expertise through optimizing the center’s value and delivering an outstanding shopping experience to the community.”
Phillips Edison & Company 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 and tenancy.
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 & Company’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. Corporate offices are located in Cincinnati, Salt Lake City, New York City and Atlanta. For more information, please visit www.phillipsedison.com or connect with us on LinkedIn.
