REAL ESTATE

Phillips Edison-ARC acquires Corvallis, Ore., center

BY Michael Fickes

Cincinnati, Ohio — Phillips Edison-ARC Shopping Center REIT Inc. has announced the acquisition of Sunset Center, a 164,797-sq.-ft. shopping center anchored by a 54,971-sq.-ft. Safeway.

The acquisition brings the Phillips Edison-ARC portfolio to 41 properties in 16 states with an aggregate purchase price of approximately $518.5 million.

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REAL ESTATE

Sold: Danada Square East in Chicago MSA

BY Michael Fickes

Oakbrook Terrace, Ill. — Mid-America Real Estate Corp. has brokered the sale of Danada Square East, a 202,036-sq.-ft. grocery anchored shopping center in the Chicago suburb of Wheaton, Ill. Dominick’s anchors the center.

Newport Capital Fund I purchased the property for $31,625,000 from CBRE Global Investors.

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REAL ESTATE

Stater Bros. will acquire Moreno Valley Albertsons

BY Michael Fickes

San Bernardino, Calif. — Stater Bros. has announced an agreement to purchase the recently closed Albertsons in Moreno Valley, Calif.

The 43,670-sq.-ft. supermarket will be the fourth location for Stater Bros. in Moreno Valley.

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