Phillips Edison buys Commerce Square

Phillips Edison & Co. this week announced it recently purchased its 10th retail center in the state of Texas for an undisclosed price.

Commerce Square, a 167,048-square-foot shopping center anchored by Goody's and Staples, is located in the city of Brownwood.

According to Lyn Harper, Phillips Edison's acquisition officer, Commerce Square is the company's first purchase "outside of a major Texas metropolitan area," and it plans to complete a "physical renovation and re-leasing" on-site.

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