1. News
June 29, 2016

Phillips Edison Grocery Center REIT I acquires shopping centre in Texas

Phillips Edison Grocery Center REIT I, has acquired a grocery-anchored shopping centre in Texas, US.

Phillips Edison Grocery Center REIT I has acquired a grocery-anchored shopping centre in Texas, US.

Financial details of the deal have not been disclosed.

The 218,598ft² Murphy Marketplace shopping centre is located in Murphy, a suburb 25 miles north-east of Dallas.

This centre is anchored by Sprouts, a leading fresh format grocer.

"This centre is anchored by Sprouts, a leading fresh format grocer."

It also features national and regional tenants, including Michaels, 24 Hour Fitness, Tuesday Morning, T-Mobile, Chick-Fil-A, Einstein Bros. Bagels, Chipotle, Firehouse Subs and Dunkin’ Donuts.

Phillips Edison Grocery Center REIT I is a public, non-traded, real estate investment trust.

It acquires and manages grocery-anchored neighbourhood shopping centres with a mix of national and regional retailers selling necessity-based goods and services, in robust demographic markets across the US.

As of 29 June, it owns and manages a retail portfolio comprising 149 shopping centres.

These shopping centres have a total of approximately 15.9 million square feet.