Now totaling 37 in all, Phillips Edison Grocery Center REIT II, Inc. has just announced that it has added two additional properties to its expanding acquisition portfolio of grocery-anchored shopping centers. One belonging in Fresno, California and another in Plano, Texas.
Just outside of Dallas, the Plano, "Market Street," location boasts 169,624 square feet of grocery and retail space. Market Street is the anchoring grocery retailer here and is owned by its parent, United Supermarkets, a subsidisary of Albertson's. The center also hosts a World of Beer, a Tony & Guy Hairdressing Academy, Medi Weight Loss Clinic, and the Little Gym.
In Fresno, the West Acres Shopping Center weighs in at a smaller 83,414 square footage of retail and grocery space. Fresno is the the fifth largest city in California, and is located centrally within in its agricultural valley. There, the shopping center is anchored by a Food Maxx store, a banner of Save Mart. Save Mart is a private chain of supermarkets that operates 240 stores in the northwest California and Arizona regions. This shopping center is augmented by a Best Cuts, Little Caesars, and an Atlas Healthcare.
The company is sponsored by Phillips Edison which has a "robust acquisitions pipeline" managed by a national, in-house acquisitions team....to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness," according to a press release.
Stay tuned to Deli Market News for further developments with Phillips Edison Grocery Center REIT II Inc. and its expanding portfolio.
