Phillips Edison-ARC acquires Corvallis, Ore., center
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.
Sold: Danada Square East in Chicago MSA
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.
Stater Bros. will acquire Moreno Valley Albertsons
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.