Phillips Edison Expands Retail Portfolio

A Cincinnati-based non-traded REIT recently completed a three-state shopping spree.

By Ioana Neamt, Associate Editor

Moreno Marketplace - Moreno Valley, Calif.
Moreno Marketplace – Moreno Valley, Calif.

Phillips Edison Grocery Center REIT II Inc. has added six more grocery-anchored shopping centers to its portfolio. Though details of the transaction have not been made public, the deal included properties located in the states of Wisconsin, California and Florida, as follows:

  • Moreno Marketplace in Moreno Valley, Calif. – a 77,763-square-foot shopping center located 52 miles east of downtown Los Angeles. The center is anchored by Stater Bros. and includes tenants such as Subway, Wells Fargo Bank, and Jack in the Box;
  • Village Center in Racine, Wis. – the 241,704-square-foot shopping center is located just 30 miles south of Milwaukee and 60 miles north of Chicago. Anchored by Festival Foods, the center is also home to Kohl’s, Panera Bread, Dress Barn, and many others;
  • Alico Commons in Fort Myers, Fla. – The 97,592-square-foot shopping center is anchored by Publix. Other tenants include Metro PCS, Humana, and ATC Fitness;
  • Rockledge Square in Rockledge, Fla. – Located just 20 miles of Melbourne, Fla., the 76,018-square-foot retail center is also anchored by Publix and its tenant roster includes Firehouse Subs, Cricket Wireless, and Advance America;
  • Windover Square in Melbourne, Fla. – Another Publix-anchored shopping center, the property consists of 81,516 square feet of space. Tenants include Weight Watchers, Dollar Tree, Sally Beauty, and Woody’s BBQ;
  • Port St. John Plaza in Port St. John, Fla. – Situated 35 miles from Melbourne, Fla., the 78,790-square-foot retail center is anchored by Winn Dixie and also includes tenants such as Papa John’s, Planet Fitness, and Subway.

With these latest acquisitions, Phillips Edison has expanded its retail portfolio to include 47 grocery-anchored shopping centers totaling 5.7 million square feet, ChainStoreAge reports.

Image courtesy of Strategic Realty Trust