Phillips Edison expands in Nashville market

Developer attracted by strong anchor tenants

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Phillips Edison & Co. purchased Rivergate Square, an 83,408-square-foot retail center in Madison, Tenn. The value of the transaction was not disclosed. Office Depot anchored Rivergate Square at the time of sale. "We are excited to add another property in Nashville on a very strong retail corridor anchored by a solid-performing Home Depot and Office Depot. Our leasing focus will allow us to refill the recent vacancies and restabilize the center," said Mark Addy, chief operating officer of Phillips Edison. Phillips Edison & Co. is a retail real estate owner, manager and developer operating in 27 states. ...