TAMPA- Phillips Edison–ARC Shopping Center REIT Inc. has acquired a portfolio of two Publix grocery-anchored shopping centers here.
The portfolio purchase includes Lutz Lake Crossing, a 64,986-square-foot shopping center in Lutz, located approximately 15 miles north of Tampa. The shopping center is anchored by a Publix grocery store and is approximately 86% occupied. The deal also includes Publix at Seven Hills, a 72,590-square-foot shopping center located in Spring Hill, which is anchored by a Publix grocery store. The shopping center is approximately 91% occupied.
No purchase price was revealed, however the Cincinnati-based company states the purchase brings its total portfolio to 39 properties with 14 leading grocers in 16 states, and a portfolio aggregate purchase price of approximately $486.3 million.
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