Phillips Edison makes first New Jersey purchase

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Phillips Edison & Co. today announced it has entered the New Jersey market with the purchase of a large shopping center in Bridgeton. The retail real estate owner/developer paid an undisclosed amount for Upper Deerfield Plaza, which comprises 110,728 square feet. At the time of sale, the property was anchored by Percussion One, an instruction center that teaches percussive arts. Phillips Edison said in a press statement that it aims to "acquire additional value-add properties throughout the Delaware Valley." *** What's your opinion? Send your Letter to the Editor to opinion@inman.com. ...