CHARLOTTE, NC—Phillips Edison – ARC Shopping Center REIT is staying true to its strategy in early 2012 new moves to acquire more retail centers. There’s joint venture dealings and new buys to report from the Cincinnati-based firm.

Frist, the REIT wrapped up the seeding of the recently announced PECO-ARC Institutional Joint Venture I by putting ownership interest of Burwood Village Center to the JV. It was the last of Phillips Edison’s seven properties to make its way into the JV. Separately, the JV also acquired Cureton Town Center. The two transactions are worth $30.9 million.

The Cureton Town Center is a 74,557-square-foot grocery-anchored shopping center in Waxhaw, NC. The price was $13.9 million. Harris Teeter anchors the shopping center on a long-term lease through March 2027. Fifth Third Bank, SunTrust Bank, Great Clips, Papa John’s, and Moe’s Southwest Grill are also tenants. The shopping center is 91.9% occupied.