Press Release

Phillips Edison & Company Acquires 23 Shopping Centers in 2017

Company Release - 12/6/2017 4:00 PM ET

Totals Over Two Million Square Feet of Grocery-Anchored Real Estate in Eight States

Acquired Mountain Crossing Shopping Center in Dacula, Georgia on December 1

CINCINNATI--(BUSINESS WIRE)-- Phillips Edison & Company (the “Company”) is pleased to announce a strong close to 2017, acquiring 23 grocery-anchored shopping centers on behalf of the Company and its sponsored programs throughout the year. The aggregate purchase price totaled approximately $443 million, representing over two million square feet across eight states, and featured an expanded merchandise mix with a variety of national and local tenants. A list of closings can be found below.

The most recent acquisition, Mountain Crossing, closed December 1, 2017. Mountain Crossing is a 96,606 square foot Kroger-anchored shopping center located in Dacula, Georgia. The center was purchased for $13.9 million. Other key national tenants in the center include UPS Store, Great Clips, Allstate Insurance and Chevron.

Below is a list of Phillips Edison & Company’s 2017 acquisitions:

  • Atwater Marketplace, Atwater, CA
  • Bells Fork Shopping Center, Greenville, NC
  • Evans Towne Center, Evans, GA
  • Everson Pointe, Snellville, GA
  • Flynn Crossing, Alpharetta, GA
  • Frankfort Crossing, Frankfort, IL
  • Golden Park Village, Buford, GA
  • Greentree Centre, Racine, WI
  • Heritage Plaza, Carol Stream, IL
  • Herndon Place, Fresno, CA
  • Hoffman Village, Hoffman Estates, IL
  • Mansfield Market Centre, Mansfield, TX
  • Mountain Crossing, Dacula, GA
  • Ormond Beach Mall, Ormond Beach, FL
  • Plaza 23, Pompton Plains, NJ
  • Riverlakes Village, Bakersfield, CA
  • Rocky Ridge Town Center, Roseville, CA
  • St. John's Plaza, Titusville, FL
  • Sierra Del Oro, Corona, CA
  • Tanglewood Commons, Clemmons, NC
  • Village Square of Delafield, Delafield, WI
  • Windmill Marketplace, Clovis, CA
  • Winter Springs Town Center, Winter Springs, FL

About Phillips Edison & Company™ (PECO)

Phillips Edison Grocery Center REIT I, Inc. (to be known as Phillips Edison & Company, Inc.), an internally-managed real estate investment trust (REIT), is one of the nation’s largest owners and operators of market-leading, grocery-anchored shopping centers. The company manages a diversified portfolio of over 345 shopping centers – 236 of which it owns directly – comprising approximately 26.3 million square feet located in 32 states. The company’s proven, vertically-integrated operating platform allows it to effectively and efficiently acquire, lease and manage its properties, resulting in a history of strong operating results and great shopping experiences. For more information, please visit www.phillipsedison.com.

Phillips Edison & Company is a trademark of Phillips Edison Grocery Center REIT I, Inc.

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

Source: Phillips Edison & Company