Phillips Edison Grocery Center REIT II Inc. (Grocery Center REIT II) recently purchased a 81,475 foot grocery store shopping center in Stockbridge, Georgia.
Co-sponsored by Phillips Edison Limited Partnership and AR Capital, LLC, the non-traded REIT announced the acquisition of Spivey Junction, anchored by Kroger, the number one grocer in Atlanta.
In addition, the shopping center also features several other national and regional tenants including Domino’s Pizza, Subway, Workout Anytime, Great Clips, Goodwill and Miracle Ear.
Phillips Edison Grocery Center REIT II is a non-traded REIT that seeks to acquire well-occupied grocery-anchored neighborhood shopping centers with both national and regional retailers located throughout the United States.
Grocery Center REIT II’s retail portfolio contains 17 grocery-anchored shopping centers comprised of 1.9 million square feet.
According to MTS Research Advisors, the REIT had raised about $425 million of its $2 billion offering through the end of Q3 2014.