CINCINNATI--(BUSINESS WIRE)--Phillips Edison & Company (“PECO”) today announced the acquisition of the Shoppes of Lake Village, a 135,437-square-foot grocery-anchored shopping center in Leesburg, Florida, expanding the company’s footprint in Central Florida.
The Shoppes of Lake Village is anchored by market-leading grocer Publix and is ideally situated in proximity to the heavily trafficked U.S. Highway 441 and the recently renovated Via Port Florida Mall. The shopping center also features national retailers Advance Auto Parts, Dollar Tree, H&R Block, Bon Worth, Wells Fargo Bank and Wireless Unlimited.
“Adding the Shoppes of Lake Village to our growing portfolio advances our proven strategy of owning and operating well-located shopping centers in markets that exhibit favorable long-term economic and demographic fundamentals,” said David Wik, Senior Vice President of Acquisitions at PECO. “We are excited to deliver an outstanding shopping experience to the Leesburg community.”
PECO 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
Phillips Edison & Company, Inc., an internally-managed real estate investment trust (REIT), is one of the nation’s largest owners and operators of grocery-anchored shopping centers. Its diversified portfolio of well-occupied neighborhood shopping centers has a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. As of December 31, 2017, the company manages 341 shopping centers - 236 of which it owns directly - comprising approximately 26.3 million square feet located in 32 states. The company’s proven, vertically-integrated operating platform allows it to effectively and efficiently acquire, lease and manage its properties, resulting in a history of strong operating results and great shopping experiences. For more information, please visit www.phillipsedison.com.