Phillips Edison Grocery Center REIT II, Inc. Acquires Grocery-Anchored Shopping Center
CINCINNATI–(BUSINESS WIRE)–Phillips Edison Grocery Center REIT II, Inc. (the “Company”) today announced the strategic acquisition of a grocery-anchored shopping center, expanding the Company’s portfolio in Arizona.
Alameda Crossing is a 132,338 square foot grocery store-anchored shopping center in Avondale, Arizona, a suburb 18 miles west of Phoenix. The center is anchored by Sprouts, a leading fresh format grocer headquartered in Phoenix. Alameda Crossing also features national tenants Tuesday Morning, Big 5, JoAnn Fabrics, Papa Murphy’s, Bank of America, Sports Clips and a variety of local retailers.
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 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 December 7, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 71 grocery-anchored shopping centers totaling 8.8 million square feet of gross leasable area. For more information on the Company, please visit the website at www.grocerycenterREIT2.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.