REAL ESTATE

Phillips Edison-ARC expands portfolio in Texas with two acquisitions

BY Katherine Boccaccio

Cincinnati — Phillips Edison-ARC Grocery Center REIT II, Inc. has acquired two grocery-anchored shopping centers, Northpark Village and Spring Cypress Village, both located in Texas.

Northpark Village is a 70,479-sq.-ft. grocery-anchored shopping center in Lubbock, anchored by United Supermarkets and tenanted by GNC, Starbucks, Super Tan and Sun Loan Company.

Spring Cypress Village is a 97,550-sq.-ft. grocery-anchored center in Houston, anchored by Sprouts and tenanted by Burger King, State Farm Insurance and Spec’s.

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REAL ESTATE

Target opens three new Canadian stores; plans three more

BY Dan Berthiaume

Mississauga, Canada – Target opens three new stores in Canada Aug. 1 and plans three more new Canadian stores later in the fall. The stores are located at Erin Mills Town Centre in Mississauga, Ontario; Park Place in Barrie, Ontario and Carrefour Candiac in Candiac, Quebec.

The opening of the three new stores brings the total number Target stores open in Canada to 130. The stores in Barrie and Candiac are new buildings. Target has opened six stores in Canada this year, three of which were built from the ground up. Target employs an average of 150 team members at each of its Canadian locations, including the three new stores.

The three new stores will also feature a licensed Starbucks, as well as in-store pharmacies. Each of the three new stores will carry an extensive range of Target-owned and exclusive brands, as well limited time collaborations with Beaver Canoe (a member of the Roots Canada family); and ongoing collaborations such as the Nate Berkus Collection, Sonia Kashuk and Pixi beauty collections and Shaun White apparel.

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REAL ESTATE

Phillips Edison expands Texas shopping center portfolio

BY Dan Berthiaume

Cincinnati – Phillips Edison-ARC Grocery Center REIT II Inc. has acquired two grocery-anchored shopping centers, Northpark Village and Spring Cypress Village. These acquisitions add properties in Texas to the company’s portfolio.

Northpark Village is a 70,479-sq.-ft. grocery store-anchored shopping center located in Lubbock, Texas, anchored by a United Supermarkets grocery store. Other national and regional tenants at the center include GNC, Starbucks, Super Tan and Sun Loan Company.

Spring Cypress Village is a 97,550-sq.-ft. grocery store-anchored shopping center located in Houston, Texas. Spring Cypress Village is anchored by Sprouts. National and regional tenants at the center also include Burger King, State Farm Insurance and Spec’s.

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