Phillips Edison ARC REIT Surpasses $500M in Acquisitions

CORVALLIS, OR-Phillips Edison–ARC Shopping Center REIT Inc. has acquired Sunset Center, a 164,797 square foot shopping center anchored by a Safeway grocery store here. The acquisition of Sunset Center brings the company’s total portfolio to 41 properties with 15 leading grocers in 16 states, with a portfolio aggregate purchase price of approximately $518.5 million. Corvallis is the home to Oregon State University which enrolls over 26,000 students a year.

Phillips Edison-ARC is a public non-traded REIT focused on the acquisition and management of well-occupied grocery-anchored neighborhood shopping centers throughout the United States.