Phillips Edison & Co., a retail real estate owner, manager and developer, purchased a seven-property, 935,623-square-foot portfolio spread across six states.

The total value of the properties was not disclosed.

Ramco Gershenson Properties Trust sold the portfolio, which includes:

  • Cox Creek Plaza in Florence, Ala., which comprises 100,501 square feet anchored by Goody’s, Old Navy, and Toys R Us.

  • Crestview Corners in Crestview, Fla., which consists of 116,983 square feet anchored by Beall’s, Ashley Furniture, and Big Lots.

  • Cumberland Gallery in New Tazewell, Tenn., which is a 98,155-square-foot center anchored by Wal-Mart and Ingles Markets.

  • Edgewood Square in North Augusta, S.C., which totals 228,209 square feet anchored by Bi-Lo.

  • Holly Springs Plaza in Franklin, N.C., which consists of 155,559 square feet anchored by Wal-Mart and Ingles Markets.

  • Indian Hills in Calhoun, Ga., which has 133,130 square feet anchored by Ingles Markets, Goody’s, and Tractor Supply.

  • Tellico Plaza in Lenoir City, Tenn., which is a 114,192-square-foot center anchored by Dollar General Market and Tractor Supply.

“This is a very important acquisition for Phillips Edison as it now gives us over 100 shopping centers in our portfolio,” said Mark Addy, chief operating officer for Phillips Edison.

Phillips Edison & Co., with offices in Baltimore, Maryland, Cincinnati, Ohio and Salt Lake City, owns and manages 103 neighborhood and community shopping centers totaling more than 12 million square feet in 26 states.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×