{"id":1004188297,"date":"2017-08-24T00:15:37","date_gmt":"2017-08-24T08:15:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188297"},"modified":"2022-12-08T07:40:36","modified_gmt":"2022-12-08T15:40:36","slug":"phillips-edison-adds-600-ksf-to-its-reits","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-600-ksf-to-its-reits\/","title":{"rendered":"Phillips Edison Adds 600 KSF to Its REITs"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"Sierra<\/a>

Sierra Del Oro Towne Centre in Corona, Calif.<\/p><\/div>\n

Phillips Edison & Co. has been on quite a shopping spree over the last few months. Acting on behalf of its two managed non-traded REITs, Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II, the shopping center developer and operator recently wrapped up a series of deals resulting in the acquisition of six grocery-anchored retail properties accounting for an aggregate 600,000 square feet.<\/p>\n

\u201cOur highly experienced team of acquisitions professionals has been very busy this summer sourcing and closing high-quality grocery-anchored shopping properties. These recent acquisitions continue to support our strategy to diversify by geography, grocery anchor, and tenant type and industry,\u201d<\/em> David Wik, senior vice president of acquisitions with Phillips Edison & Co., said in a prepared statement.<\/p>\n

Phillips Edison picked up two assets in Southern California, the 92,200-square-foot Riverlakes Village in Bakersfield, and the 110,000-square-foot Sierra del Oro Towne Center in Corona<\/a>. In Florida, the company snapped up St. John\u2019s Plaza in Titusville and Ormond Beach Mall in Ormond Beach, adding 117,500 square feet and 94,300 square feet, respectively, to the portfolio.<\/p>\n

The buying binge also resulted in the addition of Golden Park Village, a 68,300-square-foot asset in Buford, Ga., outside Atlanta, and the 114,500-squae-foot Frankfort Crossing Shopping Center in Frankfort, Ill., near Chicago. Tenants holding the grocery spot at the properties include Publix, Ralph\u2019s, Vons and Jewel-Osco.<\/p>\n

Good times for the grocery-anchored<\/h2>\n

The grocery-anchored property type, buoyed by traffic generated by supermarkets, has long had a reputation as a\u00a0safer place to invest capital<\/a> in the retail sector. It appears the reputation will hold.<\/p>\n

\u201cAs the retail sector continues to evolve, with large tenant shake-ups and e-commerce pressures, investors are focusing on anchored retail centers, particularly those with grocery tenants, as one positive path for future growth,\u201d<\/em> according to a May 2017 sentiment report by global commercial real estate marketplace Real Capital Markets.<\/p>\n

Image courtesy of Hanley Investment Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Acting on behalf of its two real estate investment trusts, the company acquired six grocery-anchored properties in various transactions. <\/p>\n","protected":false},"author":969,"featured_media":1004506915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,23891,21742,21749],"tags":[33063,35703,35705],"class_list":["post-1004188297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-national","category-latest","category-retail","tag-phillips-edison-company","tag-phillips-edison-grocery-center-reit","tag-phillips-edison-grocery-reit-ii"],"acf":[],"yoast_head":"\nPhillips Edison Adds 600 KSF to Its REITs - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-600-ksf-to-its-reits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phillips Edison Adds 600 KSF to Its REITs\" \/>\n<meta property=\"og:description\" content=\"Acting on behalf of its two real estate investment trusts, the company acquired six grocery-anchored properties in various transactions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-600-ksf-to-its-reits\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-24T08:15:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T15:40:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Sierra-Del-Oro-Towne-Centre-in-Corona-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-600-ksf-to-its-reits\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-adds-600-ksf-to-its-reits\/\",\"name\":\"Phillips Edison Adds 600 KSF to Its REITs - 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