Public, non-traded real estate investment trust (REIT) Phillips Edison Grocery Center REIT II, Inc. recently acquired Ocean Breeze Plaza, a Publix-anchored grocery store shopping center, to its portfolio for $14.9 million, exclusive of closing costs.
Located in Jensen Beach, Florida, Ocean Breeze Plaza contains 96,192 square feet of rentable space and sits on 11.7 acres. Publix occupies about 45,600 square feet while other tenants include Dunkin Donuts, Subway, and Big Apple Pizza. At the time of acquisition, the plaza was 84 percent leased to 17 total tenants.
As of May 11, 2015, Grocery Center REIT II, Inc.’s portfolio consists of 28 grocery-anchored shopping centers with 3.1 million square feet.