Phillips Edison & Company Acquires Another Center in North Carolina

BALTIMORE, Dec. 7 /PRNewswire/ — Phillips Edison & Company, a retail real estate owner, manager and developer, announced the purchase of New Market Madison Shopping Center in Madison, North Carolina.

New Market Madison is a 169,343 square foot community shopping center, 64.97% occupied, anchored by Big K-Mart.

“New Market Madison complements our current North Carolina portfolio and is located in an area which will benefit from the resurgence of the Piedmont Triad area,” said Steve Black, Director of Southeast Acquisitions for Phillips Edison & Company.

Phillips Edison & Company, with offices in Baltimore, Maryland, Cincinnati, Ohio and Salt Lake City, Utah, owns and manages 222 neighborhood and community shopping centers totaling over 24 million square feet in 34 states. Specializing in the acquisition and redevelopment of under-performing grocery anchored shopping centers, Phillips Edison & Company is a fully integrated real estate company that acquires, develops, redevelops, leases and manages its retail real estate portfolio. For general and leasing information for Phillips Edison and Company, please view the website at http://www.phillipsedison.com.

SOURCE Phillips Edison & Company

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