CINCINNATI—The Phillips Edison-ARC Shopping Center REIT Inc. was one of the fastest acquirers of shopping centers in 2013, and during the first quarter of this year, it has continued at roughly the same pace, snapping up 17 centers across the US for a total of $285.7 million, company officials say. Its long-term strategy has been to assemble a safe portfolio of neighborhood and community shopping centers anchored by the #1 or #2 grocers in its targeted markets.

“We are pleased to report another active quarter of acquisitions, adding 17 properties to our portfolio for a total of 100 grocery-anchored shopping centers owned representing an aggregate purchase price of approximately $1.5 billion,” says Jeff Edison, chief executive officer of the company. “Our portfolio now includes shopping centers in 23 states anchored by 31 different grocery store anchors and totaling over 10.5-million-square-feet.”

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