Phillips Edison grows in Arkansas

Investor banks on center's leasing potential

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Phillips Edison & Co. recently announced the acquisition of Geyer Springs, a 147,112-square-foot retail center in Little Rock, Ark. The value of the transaction was not disclosed. At the time of sale, the shopping center was anchored by Harvest Foods. "Geyer Springs presents Phillips Edison with an opportunity to focus our leasing efforts in upgrading and stabilizing a grocery anchored shopping center located at a strong retail corner," said Mark Addy, chief operating officer for Phillips Edison. Phillips Edison & Co., with offices in Baltimore, Cincinnati and Salt Lake City, owns and manages 16 neighborhood and community shopping centers totaling more than 4 million square feet. ...