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Phillips Edison-ARC expands portfolio in Texas with two acquisitions
Cincinnati -- Phillips Edison-ARC Grocery Center REIT II, Inc. has acquired two grocery-anchored shopping centers, Northpark Village and Spring Cypress Village, both located in Texas.
Northpark Village is a 70,479-sq.-ft. grocery-anchored shopping center in Lubbock, anchored by United Supermarkets and tenanted by GNC, Starbucks, Super Tan and Sun Loan Company.
Spring Cypress Village is a 97,550-sq.-ft. grocery-anchored center in Houston, anchored by Sprouts and tenanted by Burger King, State Farm Insurance and Spec's. -
Hilldale to launch redevelopment
Madison, Wisconsin -- Hilldale, a 675,000-sq.-ft. center in Madison, Wisconsin, is preparing to launch a major redevelopment that will add 53,000 sq. ft. of new retail and restaurant space built in an outdoor streetscape. As part of the redevelopment, Kate Spade New York, Lucky Brand, Michael Kors and Sperry Top-Sider will join the existing roster of national and local retailers, restaurants and specialty boutiques. The center is owned and operated by WS Development, Chestnut Hill, Massachusetts.