Phillips Edison lands 739,000 square feet

Acquires six properties from Developers Diversified

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Phillips Edison & Co. today announced the acquisition of six shopping centers from Developers Diversified Realty Corp. totaling 739,903 square feet of retail space in New York and the Carolinas. The value of the acquisition was not disclosed. Properties in this transaction include: Bi-Lo Center in Ashville, N.C., 54,319 square feet; Eastridge Crossing in Hendersonville, N.C., 159,429 square feet; North Aiken Bi-Lo Center in Aiken, S.C., 59,204 square feet; Redbud Commons in Gastonia, N.C., 63,937 square feet; Thompson Square Mall in Monticello, N.Y., 240,135 square feet; and University Plaza in Amherst, N.Y., 162,879 square feet. The closing represents the second phase of Phillips Edison's purchase of a portfolio of 63 DDR properties, totaling 5.7 million square feet. The first transaction, completed June 29, included 52 properties. Five additional shopping centers will be acquired in the near future to complete the deal. ...