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Phillips Edison Grocery Center REIT II acquires three grocery-anchored shopping centers in the US

RBR Staff Writer Published 24 May 2016

Phillips Edison Grocery Center REIT II has acquired 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.



Source: Company Press Release