Phillips Edison Development Co. on Thursday announced it has purchased a 50-acre site in Post Falls, Idaho, where it plans to develop a 465,000-square-foot shopping center.
The site, sold by Vision First LLC, is located at the northeast corner of State Highway 41 and Prairie Avenue.
The retail center will include a grocery component and other large-box anchors, as well as restaurants and in-line specialty stores, creating a new hub for Post Falls retail, according to a press statement. The center will anchor Vision First’s planned Prairie Crossing development, a 184-acre, mixed use community on both sides of Prairie Ave.
The parties intend to apply to the City of Post Falls for annexation and rezoning in early 2008.