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LITTLE ROCK, AR-Phillips Edison & Co., a 16-year-old, Baltimore-based redeveloper of neighborhood and community centers, has acquired its 23rd retail asset this year with the purchase of the 147,112-sf Geyer Springs Shopping Center. Since January, the company has acquired 3.18 million sf in various national markets.

The price of the Geyer Springs property wasn't disclosed, but a company representative tells GlobeSt.com it was "below $100 per sf." That would place it in the total price range of about $10 million, retail brokers in Atlanta familiar with the company's growing national portfolio, tell GlobeSt.com.

The Geyer Springs shopping center acquisition "presents Phillips Edison with an opportunity to focus our leasing efforts in upgrading and stabilizing a grocery-anchored shopping center located at a strong retail corner" in Little Rock, says Mark Addy, the company's COO.