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Phillips Edison Expands Holdings With Illinois Retail Buy

By Tony Seruga

The REIT is on a mission to enlarge its grocery-anchored shopping center business, this time with the purchase of a Chicago suburb property anchored by local chain Mariano’s.

Phillips Edison & Co., a Cincinnati-based owner of grocery-anchored shopping centers, is continuing its aggressive expansion, adding Hoffman Village to its Illinois holdings. The 159,443-square shopping center in Hoffman Estates, Ill., a Chicago suburb, marks the 14th property in Illinois for the company.

Hoffman Village, which is anchored by Mariano’s, a local grocer owned and operated by Roundys Supermarkets Inc., was acquired by the company’s Phillips Edison Grocery Center REIT I Inc. The shopping center has a mix of national and local tenants, including AT&T, Anytime Fitness, GNC, Fannie May Candies, Hallmark, Subway, Supercuts and Dunkin’ Donuts…

Phillips Edison Expands Holdings With Illinois Retail Buy

Categories : Commercial Real Estate

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