Phillips Edison Grocery Center REIT I, Inc. Acquires Grocery-Anchored Shopping Center in Illinois

World News: . []

Phillips Edison & Company (the “Company”) today announced the strategic acquisition of Hoffman Village, a grocery-anchored shopping center in Hoffman Estates, IL, a suburb of Chicago, by Phillips Edison Grocery Center REIT I, Inc. (“PECO I”), expanding PECO I’s portfolio in Illinois.

Hoffman Village is a 159,443 square foot shopping center in Hoffman Estates, IL, a suburb of Chicago. The property, is anchored by Mariano’s, a local grocer owned and operated by Roundy's Supermarkets, Inc. Hoffman Village also features a diverse mix of national and local tenants including AT&T, Anytime Fitness, GNC, Fannie May Candies, Hallmark, Subway, Supercuts, and Dunkin Donuts.

“The acquisition of Hoffman Village exemplifies the commitment to adding high quality grocery-anchored shopping centers to the existing portfolio,” said David Wik, Senior Vice President of Acquisitions of the Company. “It supports the strategy of owning and managing grocery-anchored centers located in markets that demonstrate strong long-term economic and demographic fundamentals.”

The Company has a robust acquisitions pipeline managed by a national, in-house acquisitions team from which it continues to source opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography and tenancy.

About Phillips Edison & Company

Since 1991, Phillips Edison & Company has focused on the grocery-anchored shopping center sector. The Company has a fully integrated in-house operating platform built on market leading expertise designed to optimize property value and consistently deliver a great shopping experience. Led by a veteran management team, Phillips Edison & Company’s operating platform provides retail services including acquisition, redevelopment, leasing and management of grocery-anchored retail centers. The Company manages retail properties across a national footprint. Corporate offices are located in Cincinnati, Salt Lake City, New York City and Atlanta. For more information, please visit www.phillipsedison.com or connect with us on LinkedIn.

More news and information about Phillips Edison & Company

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Business Wire: 13:30 GMT Wednesday 13th September 2017

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