Phillips Edison bags Alabama retail

Asset just 10.5% vacant at closing

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Real estate developer Phillips Edison & Co. added 209,124 square feet to its holdings with the recent purchase of a shopping center in Athens, Ala. The property, Athens Town Center, was 89.5 percent occupied at the time of purchase by tenants that included Peebles, Goody's Family Clothing, Big Lots, Tractor Supply and Southern Family Market. Phillips Edison paid an unidentified entity an undisclosed amount for the property. With this acquisition, the company owns 206 retail centers nationwide. ...