US-based real estate investment trust Phillips Edison Grocery Center has acquired Southern Palms and Golden Eagle Village shopping centres, both of which are grocery store-anchored.
Financial details of the deal were not disclosed.
Go deeper with GlobalData
Based in Arizona, Southern Palms is a 257,979ft² shopping centre that is anchored by Sprouts, a fresh format grocer.
Southern Palms also houses Planet Fitness, Firehouse Subs, Leslie’s Pool Supplies, Sally Beauty, GNC, State Farm and West Marine Products.
Golden Eagle Village is a 64,050ft² shopping centre in Florida. Anchored by the grocer Publix, the shopping centre also has Domino’s, AT&T and Great Clips outlets.
Phillips Edison Grocery Center acquires and manages grocery-anchored neighbourhood shopping centres with a mix of national and regional retailers selling necessity-based goods and services, in significant demographic markets across the US.
As of November 1, it owned and managed a retail portfolio comprising 153 shopping centres.
The shopping centres have a total of around 16.6 million square feet.
