{"id":1004153704,"date":"2016-09-27T23:18:59","date_gmt":"2016-09-28T07:18:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004153704"},"modified":"2022-12-09T01:41:59","modified_gmt":"2022-12-09T09:41:59","slug":"phillips-edison-adds-second-shopping-center-to-michigan-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-second-shopping-center-to-michigan-portfolio\/","title":{"rendered":"Phillips Edison Adds Second Shopping Center to Michigan Portfolio"},"content":{"rendered":"<p><em>By Alexandra Pacurar<\/em><\/p>\n<div id=\"attachment_1004153706\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004153706\" data-attachment-id=\"1004153706\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-second-shopping-center-to-michigan-portfolio\/livonia-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg\" data-orig-size=\"900,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;16&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D810&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1458923801&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;14&quot;,&quot;iso&quot;:&quot;800&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"livonia-plaza\" data-image-description=\"&lt;p&gt;Livonia Plaza&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Livonia Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg?w=900\" class=\"wp-image-1004153706 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg\" alt=\"Livonia Plaza\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg 900w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/livonia-plaza.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004153706\" class=\"wp-caption-text\">Livonia Plaza<\/p><\/div>\n<p><strong>Detroit<\/strong>\u2014<a href=\"https:\/\/www.grocerycenterreit2.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Phillips Edison Grocery Center REIT II<\/a> announced the acquisition of Livonia Plaza in Livonia, Mich., for roughly $20 million, from <a href=\"https:\/\/rgpt.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Ramco-Gershenson Properties Trust<\/a>. The 137,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/\" target=\"_blank\" rel=\"noopener\">shopping center<\/a> is the company\u2019s second property in the state and it adds to an extensive portfolio of roughly 70 retail properties across the U.S. The transaction was brokered by a <a href=\"https:\/\/www.midamericagrp.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Mid-America Real Estate Corporation<\/a> investment sales team led by principals Ben Wineman and Daniel Stern.<\/p>\n<p>Kroger is the anchor tenant at Livonia Plaza, which is home to national and regional retailers such as TJ Maxx, Sally Beauty Supply, Pearle Vision and GNC. US Armed Forces Recruiting Center, Subway, H&amp;R Block, and Fantastic Sam\u2019s are also operating under the same roof.<\/p>\n<p>Phillips Edison has a complex, nation-wide acquisition strategy aiming at high quality, grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness. The company prefers sunny states such as California and <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/miami\/\" target=\"_blank\" rel=\"noopener\">Florida<\/a>, where it has purchased a total of 24 properties.<\/p>\n<p><em>Image courtesy of Mid-America Real Estate Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Livonia Plaza is anchored by Kroger, Detroit area\u2019s number one grocer by market share. <\/p>\n","protected":false},"author":236,"featured_media":1004153706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1495,21783,13,21742,21749],"tags":[],"class_list":["post-1004153704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-detroit","category-investment","category-midwest","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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