Phillips Edison-ARC Reaches 100 Centers

CINCINNATI—Phillips Edison-ARC Shopping Center REIT Inc. has just acquired another four grocery-anchored shopping centers, and now owns more than 100 similar centers across the US. In addition, with these acquisitions plus the properties the company has under contracts, it has committed all of the net equity proceeds raised in its initial public offering. Phillips Edison & Company and AR Capital, LLC sponsor the Cincinnati-based company.

“We always believed that grocery-anchored centers are very strong investments,” Jeff Edison, chairman and chief executive officer, tells GlobeSt.com. “It goes back to the founding principle of our company. It’s a bit corny-sounding, but people always need to eat.”