Phillips Edison purchases Georgia strip mall

Developer draws upon prime location

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Phillips Edison & Co. recently acquired Tower Plaza, an 83,990-square-foot retail center in Carrollton, Ga. Neither the value of the transaction nor the seller's identity was disclosed. "We liked the location, which is on the main thoroughfare between Carrollton and Atlanta," said Mark Addy, Chief Operating Officer for Phillips Edison. "The property offers us the upside through active management and leasing we know we can deliver." At the time of sale, Southern Family Markets anchored the property. Phillips Edison & Co., with offices in Baltimore, Cincinnati and Salt Lake City, is a fully integrated real estate company that acquires, develops, redevelops, leases and manages its retail real estate portfolio. ...