Phillips Edison & Co., a retail real estate owner, manager and developer, purchased a seven-property, 935,623-square-foot portfolio spread across six states.
The total value of the properties was not disclosed.
Ramco Gershenson Properties Trust sold the portfolio, which includes:
- Cox Creek Plaza in Florence, Ala., which comprises 100,501 square feet anchored by Goody’s, Old Navy, and Toys R Us.
- Crestview Corners in Crestview, Fla., which consists of 116,983 square feet anchored by Beall’s, Ashley Furniture, and Big Lots.
- Cumberland Gallery in New Tazewell, Tenn., which is a 98,155-square-foot center anchored by Wal-Mart and Ingles Markets.
- Edgewood Square in North Augusta, S.C., which totals 228,209 square feet anchored by Bi-Lo.
- Holly Springs Plaza in Franklin, N.C., which consists of 155,559 square feet anchored by Wal-Mart and Ingles Markets.
- Indian Hills in Calhoun, Ga., which has 133,130 square feet anchored by Ingles Markets, Goody’s, and Tractor Supply.
- Tellico Plaza in Lenoir City, Tenn., which is a 114,192-square-foot center anchored by Dollar General Market and Tractor Supply.
“This is a very important acquisition for Phillips Edison as it now gives us over 100 shopping centers in our portfolio,” said Mark Addy, chief operating officer for Phillips Edison.
Phillips Edison & Co., with offices in Baltimore, Maryland, Cincinnati, Ohio and Salt Lake City, owns and manages 103 neighborhood and community shopping centers totaling more than 12 million square feet in 26 states.
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