Phillips Edison & Co. closed on the purchase of two more shopping centers as part of its plan to purchase 63 Developers Diversified Realty Corp. properties this year.
The latest acquisition, which brings the current total to 60, includes Tops Plaza-Canandaigua in Canandaigua, N.Y., and Pasco Square in West Pasco, Fla. Tops Plaza is a 57,874-square-foot, single-tenant property with additional land for development, and Pasco Square is a 135,421-square-foot center anchored by Beall’s Outlet and Dollar General.
Phillips Edison plans to close on the three remaining properties in the portfolio in the near future, bringing the total 63-property acquisition to 5.7 million square feet.
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