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.
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.