CINCINNATI--(BUSINESS WIRE)--Phillips Edison Grocery Center REIT II, Inc. (the “Company”) today announced the strategic acquisition of three grocery-anchored shopping centers, expanding the Company’s portfolio in Texas, California and Georgia.
Stone Gate Plaza is a 90,643 square foot grocery store-anchored shopping center in Crowley, Texas, a suburb 15 miles south of Fort Worth and 45 miles southwest of Dallas. The center is anchored by Kroger, the number two grocer by market share in the Dallas area. Stone Gate Plaza also features national and regional tenants Cousin’s BBQ, Eagle Postal, Wingstop, GNC, Gamestop, Pro Cuts, Styles of India, and Subway.
Broadway Pavilion is a 142,944 square foot grocery store-anchored shopping center in Santa Maria, California. The center is anchored by Food Maxx, a banner of Save Mart, a private chain of supermarkets that owns and operates stores in Northern and Central California and Northern Nevada. Broadway Pavilion also features national and regional tenants Starbucks, Subway, Sally Beauty, Rent-A-Center, Cricket Wireless, Play It Again Sports, Party City, Hallmark, and Federal Credit Union.
Market Walk Shopping Center is a 255,102 square foot grocery store-anchored shopping center in Savannah, Georgia. The center is anchored by a Kroger Marketplace, the number one grocer by market share in the Savannah area. Market Walk Shopping Center is co-anchored by Dick’s Sporting Goods and also features national and regional tenants Buffalo Wild Wings, Pizza Hut, Jason’s Deli, Vision Works, Super Cuts, Chipotle, European Wax Center, Urgent Care, Original Pancake House, West Marine, and Edwin Watts.
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 May 18, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 63 grocery-anchored shopping centers totaling 7.9 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.