ARC’s Phillips Edison Grocery Center REIT II Buys Two Centers in SC and FL

Phillips Edison Grocery Center REIT II Inc., a public non-traded real estate investment trust co-sponsored by AR Capital and Phillips Edison, has acquired two grocery-anchored shopping centers, expanding the company’s portfolio in Florida and South Carolina.

Island Walk Shopping Center is a 213,656-square-foot grocery store-anchored shopping center in Fernandina Beach, FL, a suburb located on Amelia Island, 36 miles north of Jacksonville. The center is anchored by Publix, the number one grocer by market share in the Jacksonville area. Island Walk Shopping Center also features key national and regional tenants Starbucks, Mattress One, Staples and Shapiro Insurance Group.

North Pointe Plaza is a 323,996-square-foot grocery store-anchored shopping center in North Charleston, SC. The center is anchored by Walmart Supercenter, the number one grocer by market share in the Charleston area. North Pointe Plaza also features key national tenants Subway, Sally Beauty Supply, Pizza Hut and Petco.

This summer, as The DI Wire previously reported, the public non-traded REIT purchased centers in Texas, Michigan, Massachusetts, Colorado and California.

The company’s sponsor, Phillips Edison, has a robust acquisitions pipeline managed by a national, in-house acquisitions team from which it continues to source opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.

Phillips Edison Grocery Center REIT II Inc. seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the US. As of October 5, 2015, the company owned and managed an institutional quality retail portfolio consisting of 40 grocery-anchored shopping centers totaling 4.8 million square feet of gross leasable area.