July 1, 2013
Phillips Edison–ARC Shopping Center REIT
Inc. (the "Company") today announced that it has acquired four (4) grocery-anchored shopping centers at an aggregate purchase price of approximately
. These acquisitions further diversify the Company's portfolio by including the Company's first acquisitions in
and Wisconsin. The Company also purchased its first property in
The four acquisitions bring the Company's total portfolio to 46 properties anchored by 18 leading grocers, in 18 states, with a portfolio aggregate purchase price of approximately
is a 139,720 square foot shopping center located in the
metropolitan area. The shopping center is anchored by a Kroger grocery store, the No. 1 grocery store in the
area by market share. Approximately 70 percent of the rents at the shopping center come from national tenants.
Northcross is a 280,243 square foot shopping center located in
. The shopping center is anchored by a 98,800 square foot Walmart Supercenter which is on a long-term lease through
. Other national tenants at this shopping center include Walgreens, Game Stop, GNC, Guitar Center, Great Clips, and Weight Watchers.
Glenwood Crossings is an 87,504 square foot shopping center located in the
metropolitan area. The shopping center is anchored by a 55,000 square foot Pick 'n Save grocery store, which is a banner of Roundy's (NYSE: RNDY). Pick 'n Save is the No. 1 grocer by market share in the
The Pavilions at
is a 151,451 square foot shopping center located in
Albuquerque, New Mexico
. The shopping center is anchored by a 36,926 square foot Walmart Neighborhood Market grocery store. Walmart is the No. 1 grocer by market share in the
area. Approximately 84 percent of the rents at the shopping center come from national tenants.
About Phillips Edison – ARC Shopping Center REIT Inc.
Phillips Edison-ARC Shopping Center REIT Inc. is a public non-traded REIT that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. The REIT is co-sponsored by two industry leaders:
& Company, who has acquired over
in shopping centers throughout
the United States
, and AR Capital, LLC, a real estate investment program sponsor dedicated to governance best practices. As of
July 1, 2013
, the Company owned, directly or indirectly through a joint venture in which it has a controlling interest, and managed an institutional quality retail portfolio consisting of 46 grocery-anchored shopping centers totaling approximately 4.9 million square feet. For more information on the company, please visit the website at
- ARC Shopping Center REIT Inc.