Two grocery-anchored shopping centers acquired

Cincinnati -- Phillips Edison Grocery Center REIT II, Inc. announced it has acquired Plano Market Street in Plano, Texas, and The West Acres Shopping Center in Fresno, California, for a collective $57.1 million, totaling more than 253,038 sq. ft.



Plano Market Street is a 169,624 sq. ft. grocery store-anchored shopping center in Plano, Texas, just outside Dallas. The center is 94.2% leased, anchored by Market Street and retailers World of Beer, Tony & Guy, and the Little Gym.



West Acres Shopping Center is an 83,414 sq. ft. grocery store-anchored shopping center, 100% leased anchored by Food Maxx.



The acquisitions of these two properties expands Phillips Edison’s portfolio in Texas and California. The company now owns and manages a retail portfolio consisting of 37 grocery-anchored shopping centers totaling 4.1 million sq. ft.