Public, non-traded real estate investment trust Phillips Edison Grocery Center REIT II, Inc. announced today that it has acquired again in Florida.
The REIT purchased a Publix-anchored shopping center, Oakhurst Plaza, in Seminole, Florida, which is a suburb of Tampa.
Acquired for $6.3 million exclusive of closing costs, Oakhurst consists of 51,502 rentable square feet and 6.57 acres of land. It is 84% leased to 9 tenants with Publix occupying 27,880 square feet.
Grocery Center REIT II acquired the property with proceeds from its ongoing public offering. The seller was One Bayshore, LLC, an unaffiliated limited liability company based in Florida.