Phillips Edison Acquires Two Grocery-Anchored Shopping Centers for $57.1 Million

by Katie Sloan

Plano, Texas and Fresno, Calif. — Phillips Edison Grocery Center REIT II Inc. has acquired two grocery-anchored shopping centers, Plano Market Street and West Acres Shopping Center, in Plano and Fresno for a collective $57.1 million.

Plano Market Street, a 169,624-square-foot, Market Street-anchored center located in Plano, was purchased from Regency Market Street for $46.9 million. The center was 94.2 percent leased at the time of sale. West Acres Shopping Center, an 83,414-square-foot, Food Maxx-anchored center located in Fresno, was purchased from West Acres LLC for $10.2 million. The center was 100 percent occupied at the time of sale. 

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