Phillips Edison buys Chicagoland center

Phillips Edison & Company has acquired a center anchored by Mariano’s grocery in the Chicago suburb of Hoffman Estates.



The 159,443-sq.-ft. Hoffman Village was left two-thirds vacant when Dominick’s closed in 2011, but the emergence of Mariano’s Fresh Market, owned and operated by Roundy’s, returned occupancy back to 94%, according to former owner NewQuest.



The acquisition “supports the strategy of owning and managing grocery-anchored centers located in markets that demonstrate strong long-term economic and demographic fundamentals,” said PECO senior VP of Acquisitions David Wik.



Other tenants at Hoffman Village include AT&T, Anytime Fitness, GNC, Fannie May Candies, Hallmark, Subway, Supercuts, and Dunkin Donuts.

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