February 10, 2016 | Business Wire
Phillips Edison Grocery Center REIT II, Inc. (the “Company”) is pleased to announce it has strengthened its portfolio and presence in Massachusetts and South Carolina with two strategic acquisitions collectively comprising 146,472 square feet of prime retail space. In two separate transactions, the Company acquired Carriagetown Marketplace in Amesbury, Massachusetts and the junior boxes at North Pointe Plaza in Charleston, South Carolina.
Carriagetown Marketplace is a 96,472 square foot shopping center anchored by Stop & Shop. The shopping center is also home to a number of other category-leading retail and restaurant brands including Subway, Papa Gino’s, Supercuts, AT&T, Verizon Wireless, H&R Block and Hallmark. Carriagetown Marketplace is positioned between I-95 and I-495 and is in close proximity to two commuter rail stations, ensuring a steady flow of traffic to Amesbury.
The junior boxes, which total 50,000 square feet and are occupied by AC Moore and Dollar Tree, are located within the 323,996 square foot North Pointe Plaza property that the Company purchased last year. With this acquisition, the Company assumed full control over the leasing and property management of the entire center and its diverse merchandise mix. Anchored by Walmart Supercenter, the market’s leading grocer, North Pointe Plaza also features a variety of other leading national and regional concepts including Rooms To Go, Dollar Tree, Sally Beauty Supply, Advance America, Petco and Liberty Tax Service. Conveniently positioned at the intersection of Ashley Phosphate Road and Rivers Avenue, North Point Plaza is situated in a high traffic area with 103,000 vehicles passing daily.
The Company’s sponsor, Phillips Edison & Company, maintains a robust acquisitions pipeline managed by a national, in-house team of highly experienced commercial real estate professionals. This team focuses on identifying opportunities to acquire 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 10, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 59 grocery-anchored shopping centers totaling 7.1 million square feet of gross leasable area. For more information on the Company, please visit the website atwww.grocerycenterREIT2.com.
This press release contains forward-looking statements about our business, including, in particular, statements about our plans, strategies and objectives. You can generally identify forward-looking statements by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. You should not rely on these forward-looking statements because the matters they describe are subject to the factors detailed under Risk Factors in our most recent Form 10-K and subsequent Forms 10-Q on file with the Securities and Exchange Commission as well as other known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.
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