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Phillips Edison’s REIT acquires grocery anchored center

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Cincinnati — Phillips Edison—ARC Shopping Center REIT Inc. has announced the acquisition of Yorktown Centre, a 196,728-sq.-ft. shopping center in Erie, Pa. Anchored by a Giant Eagle grocery store, Yorktown Centre is 100 percent occupied.

The acquisition brings the REIT’s portfolio to 53 properties with 21 leading grocers in 19 states, with an aggregate portfolio purchase price of approximately $767.7 million. Phillips Edison-ARC Shopping Center REIT is a public, non-traded REIT focused on the acquisition and management of well-occupied grocery-anchored neighborhood shopping centers throughout the U.S.

 

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