Phillips Edison-ARC acquires Corvallis, Ore., center

Cincinnati, Ohio -- Phillips Edison-ARC Shopping Center REIT Inc. has announced the acquisition of Sunset Center, a 164,797-sq.-ft. shopping center anchored by a 54,971-sq.-ft. Safeway.



The acquisition brings the Phillips Edison-ARC portfolio to 41 properties in 16 states with an aggregate purchase price of approximately $518.5 million.