Purchase Your Blue Vault Research Subscription
June 06, 2016 12:00 PM Eastern Daylight Time
CINCINNATI–(BUSINESS WIRE)–Phillips Edison Grocery Center REIT I, Inc. (the “Company”) today announced the strategic acquisition of a grocery-anchored shopping center, expanding the Company’s portfolio in Massachusetts.
Northwoods Crossing is a 159,562 square foot grocery store-anchored shopping center in Taunton, Massachusetts, a suburb 40 miles south of Boston. The center is anchored by BJ’s Wholesale Club, a leading chain of membership-only warehouse clubs. Northwoods Crossing also features national and regional tenants Tractor Supply Company, Dollar Tree, Bank Five, Subway, Ruby Tuesday and Wendy’s.
The Company’s sponsor, Phillips Edison, has a robust acquisitions pipeline managed by a national, in-house acquisitions team from which it continues to source opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
About Phillips Edison Grocery Center REIT I, Inc.
Phillips Edison Grocery Center REIT I, Inc. is a public non-traded REIT that seeks primarily 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. As of June 6, 2016, the Company owns and manages an institutional quality retail portfolio consisting of 148 shopping centers totaling approximately 15.7 million square feet. For more information, please visit the Company’s website at www.grocerycenterREIT1.com.
This press release contains forward-looking statements about the Company’s business, including, in particular, statements about its pipeline, plans, strategies and objectives. You can generally identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. You should not rely on these forward-looking statements because the matters they describe are subject to the factors detailed under Risk Factors in the Company’s most recent Form 10-K and subsequent Forms 10-Q on file with the Securities and Exchange Commission as well as other known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company’s control. The Company’s actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.
Contacts
Phillips Edison & Company
Emily Kendall, 513-746-2595
ekendall@phillipsedison.com
or
ICR
Angela Bonnici, 646-277-1276
angela.bonnici@icrinc.com
Recent News
- Cantor Fitzgerald and Silverstein Properties Announce Joint Venture Partnership with Collins Capital Partners and Kaufman Jacobs and Closing of Construction Financing for Multifamily Opportunity Zone Development in Chesterfield County, VA
- Cultivating Wealth via Specialty Farmland
- Shopoff Sells Del Taco-Anchored Retail Center in Fullerton
- Urban Catalyst Floats Housing Instead Of Offices At Icon/Echo
- ExchangeRight’s Essential Income REIT Acquires $84 Million Portfolio
“Always, but especially in this day of lawsuits and ever increasing regulations, the responsibility for a financial advisor t do their own due diligence on products they sell falls squarely on themselves. No one is going to take greater interest in protecting their practice than they are. We use the Blue Vault Partners Nontraded REIT Review to keep us informed of the performance of every single nontraded REIT. Finally, complete transparency is available for advisors using nontraded REITs. Every advisor using REITs in their practice should make the small annual investment of subscribing to Blue Vault’s reporting services.”
