Press Release

Phillips Edison & Company Receives Grant from North Brevard Economic Development Zone for Capital Improvements to Port St. John Shopping Center

Company Release - 8/23/2017 8:30 AM ET

Commercial redevelopment program to fund infrastructure and capital improvements at the Winn Dixie anchored shopping center over the next five years

CINCINNATI--(BUSINESS WIRE)-- Phillips Edison & Company (the “Company”) today announced it received a commitment for grant assistance from the North Brevard Economic Development Zone (NBEDZ) to induce infrastructure and capital improvements at the Winn Dixie anchored shopping center in Port St. John over the next five years.

“Phillips Edison is excited to work in conjunction with NBEDZ,” said Scott Adair, Vice President of Economic Development for Phillips Edison. “We are grateful that the county offers incentive programs which are designed to aid property owners, retailers and local entrepreneurs who put forth an effort to grow and expand business in the region.”

The funding from NBEDZ came from their Commercial Redevelopment Program and will represent a percentage match of funding that will be contributed by Phillips Edison for the improvements. Designed to attract and retain retail in the community, the initiative will also create a vibrant retail shopping experience for both the merchants and the greater community.

“Phillips Edison’s investment demonstrates its confidence in the Port St. John community,” said George Mikitarian, Chairman of the NBEDZ. “We are thrilled to partner with a national company like Phillips Edison that demonstrates such a strong commitment to the local communities it serves and look forward to the redevelopment of the shopping center.”

About Phillips Edison & Company

Since 1991, Phillips Edison & Company has focused on the grocery-anchored shopping center sector. The company has a fully integrated in-house operating platform built on market leading expertise designed to optimize property value and consistently deliver a great shopping experience. Led by a veteran management team, Phillips Edison’s operating platform provides retail services including acquisition, redevelopment, leasing and management of grocery-anchored retail centers. The company’s portfolio currently includes a national footprint of retail properties. The company has corporate offices in Cincinnati, Salt Lake City, New York City and Atlanta. For more information, please visit www.phillipsedison.com or connect with us on LinkedIn.

North Brevard Economic Development Zone (NBEDZ)

The North Brevard Economic Development Zone (NBEDZ, or "Zone"), created in July 2011 by the Brevard County Board of County Commissioners, is a Special Dependent District in the northern part of Brevard county established under Florida Statute, Chapter 200.

The NBEDZ was formed with the goal of facilitating job growth and economic development in North Brevard, in the wake of NASA's Space Shuttle program end in 2011. For more information, please visit www.nbedz.com.

Phillips Edison & Company
Cherilyn Megill, 801-415-4373
cmegill@phillipsedison.com
or
ICR, Inc.
Angela Bonnici, 646-277-1276
PECOPR@icrinc.com

Source: Phillips Edison & Company