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Last Updated ( Wednesday, 23 January 2013 14:43 )
DATE_FORMAT_LC2=Wednesday,January 23 2013 12:00:00 am EST   
Grocery-Anchored Atlanta Portfolio Sells for $60.5 Million

PublixATLNEWSAtlanta  — Phillips Edison-ARC Shopping Center REIT Inc. has acquired a portfolio of six grocery-anchored shopping centers throughout metro Atlanta for an aggregate purchase price of $60.5 million. The 507,668-square-foot portfolio is anchored by five Kroger grocery stores and one Publix grocery store. This acquisition brings the company's total portfolio to 32 properties in 15 states with a value of approximately $367.5 million.

"We are extremely pleased to have closed this portfolio in the greater Atlanta metro area," says Jeffrey Edison, Co-Chairman of the Board and Chief Executive Officer of Phillips Edison-ARC Shopping Center REIT Inc. "We believe in the strength of the grocery-anchored shopping center model and feel that these acquisitions further enhance the strength of our portfolio by adding strong, credit-worthy tenants such as Kroger and Publix."

Phillips Edison-ARC Shopping Center REIT Inc. is a public non-traded REIT focused on the acquisition and management of grocery-anchored neighborhood centers throughout the nation.

 

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