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Brokerage
Posted: December 23, 2013
Phillips Edison acquires three grocery-anchored shopping centers
Phillips Edison-ARC Shopping Center REIT Inc. acquired three grocery-anchored shopping centers: Collington Plaza, Golden Town Center, and Northstar Marketplace. These acquisitions expand the company's presence in Maryland, Colorado and Minnesota, and bring the number of properties acquired by the company in the fourth quarter to 14.
Collington Plaza is a 121,915 s/f grocery store-anchored shopping center located in Bowie, MD. Collington Plaza is anchored by a 64,885 s/f Giant grocery store.
Golden Town Center is a 117,882 s/f shopping center located in Golden, CO. A 69,693 s/f King Soopers grocery store anchors the shopping center.
Northstar Marketplace is a 96,356 s/f shopping center located in Ramsey, MN. Northstar Marketplace is anchored by a 61,975 s/f Coborn's grocery store.
With the acquisitions of Collington Plaza, Golden Town Center and Northstar Marketplace, the company's current portfolio is comprised of interests in 72 properties anchored by 27 leading grocers in 21 states, with an aggregate portfolio purchase price of $1.1 billion.
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