Phillips Edison & Co., a retail real estate owner and developer, has acquired Weis Plaza, a 124,161-square-foot shopping center in Kutztown, Pa.

The value of the transaction was not disclosed.

At the time of sale, Weis Plaza was anchored by Weis Markets, a regional grocer based in Sunbury, Pa.

Phillips Edison plans to upgrade the shopping center, which was approximately 62 percent occupied at closing.

Phillips Edison & Co., with offices in Baltimore, Md.; Cincinnati, Ohio; and Salt Lake City, owns and manages neighborhood and community shopping centers totaling more than 12 million square feet in 26 states.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Connect Now is tomorrow! Join top producers as we discuss how to position your business for success in 2021.Reserve Your Spot×