Phillips Edison Grocery Center REIT II, Inc. Acquires First Grocery-anchored Shopping Center
February 3, 2015 – (RealEstateRama) — Phillips Edison Grocery Center REIT II, Inc. (the “Company”) today announced the acquisition of Willimantic Plaza, adding the first property in the state of Connecticut to the Company’s portfolio.
Willimantic Plaza is a 128,766 square foot grocery store-anchored shopping center in Willimantic, Connecticut, a suburb of Hartford. Willimantic Plaza is anchored by BJ’s Wholesale Club. BJ’s Wholesale Club is a leading chain of wholesale clubs with over 200 locations that generates over 75% of its revenue from grocery sales. Other national and regional tenants at the center include Family Dollar, Subway, Supercuts, and Sally Beauty Supply.
The Company also has a robust acquisitions pipeline managed by its national, in-house acquisitions team to continue to source high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
About Phillips Edison Grocery Center REIT II, Inc.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that 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 United States. As of February 3, 2015, the Company owned and managed an institutional quality retail portfolio consisting of 21 grocery-anchored shopping centers totaling 2.4 million square feet.
