CINCINNATI–(BUSINESS WIRE)–Phillips Edison Grocery Center REIT II, Inc. (the “Company”) today announced the strategic acquisitions of three grocery-anchored shopping centers in Georgia, New York and Florida. The shopping centers, which collectively comprise 618,786 square feet of retail space, are anchored by leading grocers Walmart Supercenter, Tops Markets and Walmart Neighborhood Market, respectively.
In the first transaction, the Company acquired Bartow Marketplace, a 375,067 square-foot shopping center located in Cartersville, Georgia, which is 43 miles northwest of Atlanta. Bartow Marketplace is anchored by a 204,170 square foot Walmart Supercenter grocery store and co-anchored by a 130,497 square foot Lowe’s. Additional key national and regional tenants include Cricket Wireless, CPR Cell Phone Repair, Rue 21, World Finance Loans, Dollar Tree, Metro PCS, Pearle Vision, Gamestop, Peachstate Auto Insurance, Sally Beauty Supply and Payless Shoe Source.
In the second transaction, the Company acquired University Plaza, a 165,277 square-foot shopping center located in Amherst, New York, a suburb which is 8 miles northeast of Buffalo. Anchored by a 55,000 square foot Tops Markets grocery store and co-anchored by a Dollar Tree and Record Theater, University Plaza is adjacent to The State University of New York at Buffalo, which enrolls approximately 30,000 students a year. Additional national and regional tenants include Key Bank, M&T Bank, Fallas, GameStop, GNC, Sally Beauty, H&R Block, Radio Shack, Rainbow, the UPS Store, Jimmy Johns and QuestDiagnostics.
In the third transaction, the Company acquired 78,442 square-foot Bloomingdale Hills located in Riverview, Florida, which is 12 miles southeast of Tampa. The center is anchored by a 57,756 square-foot Walmart Neighborhood Market grocery store. Other key national and regional tenants at the shopping center include Happy’s Home Centers, Great Clips and Great Expressions Dental.
The Company’s sponsor, Phillips Edison & Company, maintains a robust acquisitions pipeline managed by a national, in-house team of highly experienced commercial real estate professionals. This team focuses on identifying opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
About Phillips Edison Grocery Center REIT II, Inc.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust 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. As of April 14, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 66 grocery-anchored shopping centers totaling approximately 7.9 million square feet of gross leasable area. For more information on the Company, please visit the Company’s website at www.grocerycenterREIT2.com.
This press release contains forward-looking statements about our business, including, in particular, statements about our plans, strategies and objectives. You can generally identify forward-looking statements by our 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 our 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 our control. Our actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.