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Phillips Edison expands grocery-anchored shopping center presence
Cincinnati – Phillips Edison Grocery Center REIT II announced it has acquired two grocery-anchored shopping centers, expanding the company’s portfolio in Arizona and Florida.
51st and Olive Square is an 88,225-sq.-ft. grocery-anchored shopping center in Glendale, Arizona. The center is anchored by Fry’s Food and Drug grocery store, the number one grocer by market share in the Phoenix area. Additional key national tenants include Leslie’s Poolmart, Papa Murphy’s and the UPS Store.
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Warm weather no excuse for weakness at Stage Stores
After reporting a sales decline and third quarter loss, Stage Stores offered a unique explanation due the location of its 847 stores.
The company’s sales and same store sales both declined 3.5% and a net loss of $9.4 million equated to an earnings per share loss of 29 cents, compared to a prior year earnings per share loss of 16 cents.

