Cincinnati – The three grocery-anchored shopping centers add three new states to the portfolio.
Phillips Edison-ARC Grocery Center REIT II, Inc. has acquired three grocery-anchored shopping centers: Hilander Village, Milan Plaza and Point Loomis. These acquisitions expand the Company’s portfolio to include properties in Illinois, Michigan and Wisconsin.
Hilander Village is a Schnucks grocery store-anchored shopping center in Roscoe, Illinois, part of the Quad Cities of Bettendorf, Iowa; Davenport, Iowa; Moline, Illinois and Rockford, Illinois. Schnucks is a leading grocer by market share in the Midwest and the No. 1 grocer by market share in the greater Rockford metropolitan statistical area. Other national and regional tenants featured at the 125,712-square-foot shopping center include Subway, Century 21, H&R Block, Hallmark and Great Clips.
Milan Plaza is a Kroger grocery store-anchored shopping center in Milan, Michigan, a suburb of Ann Arbor, Michigan. Kroger is the No. 1 grocer by market share in the greater Ann Arbor metropolitan statistical area. Milan Plaza features a Kroger fuel station and national tenants Edwards Jones and Ace Hardware.
Point Loomis is a Pick ‘n Save grocery store-anchored shopping center in Milwaukee. Pick ‘n Save is a subsidiary of Roundy’s, a leading grocer in the Midwest and the top grocer in the Milwaukee area by market share. Point Loomis is co-anchored by Kohl’s and features an outparcel leased to Chase Bank.