CINCINNATI—Phillips Edison-ARC Shopping Center REIT has just picked up Courthouse Marketplace, The Fresh Market Shopping Center, and Pioneer Plaza, three grocery-anchored shopping centers located in Virginia, Illinois and Oregon. The Cincinnati-based trust has made a string of purchases throughout the year, but this time it added the first Fresh Market grocery-anchored property to its portfolio.
Courthouse Marketplace is a 106,863-square-foot center located in Virginia Beach, VA, anchored by Harris Teeter, a leading grocer in the Mid-Atlantic region. Other national tenants include The UPS Store, Great Clips and Wendy's. About 7,000 city employees work in the Municipal Center and Courthouse Complex across the street.
The Fresh Market Shopping Center in Normal, IL, home of Illinois State University, has 76,017-square-feet and is anchored by a Fresh Market grocery store, one of the leading grocers in the high-growth fresh format category. Other national tenants at the center include Dick's Sporting Goods and Marshalls.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
