Stone Gate Plaza in Crowley is one of three supermarket-anchored retail centers acquired by Phillips Edison Grocery Center REIT II Inc., the company announced on Wednesday.
By acquiring the 90,643-square-foot site, the Cincinnati-based real estate investment trust has added shopping centers in Texas, Georgia and California to its portfolio.
The Crowley property is anchored by a Kroger store and also features Cousin’s BBQ, Eagle Postal, Wingstop, GNC, Gamestop, Pro Cuts, Styles of India and Subway.
Broadway Pavilion, the California acquisition, is a 142,944-square-foot shopping center in Santa Maria. The center is anchored by Food Maxx, a banner of Save Mart, a private chain of supermarkets that owns and operates stores in Northern and Central California and Northern Nevada.
Meanwhile, Market Walk Shopping Center adds Georgia to the mix, with a 255,102-square-foot center in Savannah. The center is anchored by a Kroger Marketplace.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that acquires and manages grocery-anchored neighborhood shopping centers. As of May 18, 2016, the company owned and managed an institutional quality retail portfolio comprising 63 grocery-anchored shopping centers totaling 7.9 million square feet of gross leasable area. More information is available at www.grocerycenterREIT2.com.