Phillips Edison acquires 7-property portfolio

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.

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