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Phillips Edison JV Buys Two Grocery-Anchored Retail Centers

SARASOTA, FL-PECO-ARC Institutional Joint Venture I has bought two grocery-anchored retail centers in Sarasota, Florida and Georgia. The joint venture acquired Publix at Northridge in Sarasota.

By GlobeSt News Hub | Updated on September 04, 2012

SARASOTA, FL-PECO-ARC Institutional Joint Venture I has bought two grocery-anchored retail centers in Sarasota, Florida and Georgia. The joint venture acquired Publix at Northridge in Sarasota. The shopping center, which comprises more than 65,000 square feet of space, is anchored by a Publix grocery store.

The joint venture also purchased Richmond Plaza, a 178,000-square-foot shopping center in Augusta, Georgia. The center is anchored by a Kroger grocery store. Financial details of the deal were not revealed. For the full story, go to Tampa Bay Business Journal .

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