Phillips Edison bags 'underutilized' shopping center

Phillips Edison & Co. acquired Currier Square, a 131,027-square-foot shopping center in Oroville, Calif., for an undisclosed price.

At the time of purchase, Currier Square was anchored by Raley's, a supermarket chain.

"... We see a great deal of upside in Currier Square through a concentrated and focused repositioning and redevelopment of this underutilized shopping center," said John Bessey, vice president of acquisitions for Phillips Edison.

Phillips Edison & Co. is a retail real estate owner, manager and developer operating in 25 states.

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