Phillips Edison grows Portland portfolio

Phillips Edison & Co. acquired Hillsboro Town Center, a 111,189-square-foot retail center in Hillsboro, Ore.

The value of the transaction was not disclosed.

This is the second center for Phillips Edison in Oregon, having acquired Highland Fair Shopping Center in Gresham in 2003.

At the time of sale, Hillsboro Town Center was anchored by a Bi-Mart and Office Depot.

"We are excited to add another shopping center to our Portland portfolio and wish to continue to expand our presence in the Oregon market," said Mark Addy, chief operating officer for Phillips Edison.

Phillips Edison & Co. is a retail real estate owner, manager and developer operating in 27 states.

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