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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.

Grand Bay Plaza is a 77,792-sq.-ft. grocery-anchored shopping center in Fort Myers, Florida. The center is anchored by Publix, the number one grocer by market share in the Fort Myers area. Additional key national and regional tenants Sherwin Williams, First Choice Haircutters, Coast Dental and Subway.

The Company’s sponsor, Phillips Edison, acquisitions pipeline is managed by a national, in-house acquisitions team from which it continues to source opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.

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