Phillips Edison Grocery Center REIT II Buys Arizona Shopping Center
- Dec 09, 2016
Phoenix—Phillips Edison Grocery Center REIT II Inc., a public non-traded REIT focusing on the acquisition and management of grocery-anchored shopping centers, has announced the purchase of Alameda Crossing, a grocery-anchored shopping center in Avondale, Ariz.. The financial details of the transaction were not disclosed.
Located at the intersection of N. Dysart Road and W. Mcdowell Road, Alameda Crossing is a 132,338-square-foot Sprouts-anchored shopping center. In addition to Sprouts, the property’s tenant roll includes Tuesday Morning, Big 5, JoAnn Fabrics, Papa Murphy’s, Bank of America, Sports Clips and a variety of local retailers.
Philips Edison & Co. has an extensive acquisitions pipeline managed by a national team that helps source opportunities in order to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
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