Phillips Edison makes Virginia purchase

Phillips Edison & Co. recently acquired the 112,340-square-foot Pulaski Plaza in Pulaski, Va.

The value of the transaction was not disclosed.

At the time of sale, the property was anchored by a 29,000-square-foot Food Lion grocery store.

"Pulaski represents another opportunity for us to focus our leasing and management efforts on a shopping center turn-around where we know from history that we will add value by stabilizing the center for the long term," said Mark Addy, chief operating officer for Phillips Edison.

Phillips Edison & Co. is a retail real estate owner, manager and developer operating in 26 states.

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