CINCINNATI—Phillips Edison GroceryCenter REIT II, Inc., has just acquired another threegrocery-anchored shopping centers, expanding its portfolio in Ohioand Minnesota and acquiring its first shopping center in Maryland.The company did not disclose the prices, but according to publicdocuments the total cost was more than $51 million.
“Because REIT II is still in active offering, Phillips Edison isunfortunately restricted from commenting on the acquisitions,” arepresentative told GlobeSt.com.
As reported in GlobeSt.com, the Cincinnati-based PhillipsEdison typically focuses attention on grocery store-anchoredcenters in secondary markets, frequently those with the top grocerin its respective region, that it predicts will experience solidgrowth over the next few years. This keeps it out of the intensecompetition and lower returns found in the core markets.
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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.
