CINCINNATI—Phillips Edison-ARC Shopping Center REIT Inc. has hired industry veteran Devin I. Murphy as its chief financial officer, treasurer and secretary. Murphy has over 25 years of experience with real estate investment banking and will work closely with Jeffrey Edison, co-chairman of the board and chief executive officer; John Bessey, co-president and chief investment officer; and R. Mark Addy, co-president and chief operating officer

“He complements Phillips Edison-ARC, which is dedicated to building a diverse portfolio of top-performing grocery-anchored shopping centers throughout the United States,” says Edison. “Devin's proven ability to successfully manage the strategic and financial requirements as a trusted advisor to many of the world's largest real estate companies expands the capabilities of the company as we continue to execute our investment objectives.”

Phillips Edison-ARC has been quite active lately. Early this year, GlobeSt.com reported that they had reached over $400 million in acquisitions. Subsequent purchases include Lutz Lake Crossing, a 64,986-square-foot shopping center in Lutz, located approximately 15 miles north of Tampa. In the same deal, the REIT also acquired Publix at Seven Hills, a 72,590-square-foot shopping center located in Spring Hill, Florida. In addition, the trust recently bought a portfolio of three retail assets in Tallahassee, Columbia, SC, and Houston. As of May 30, 2013, Phillips Edison-ARC owned, directly or indirectly through a joint venture in which it has a controlling interest, and managed a retail portfolio with 40 grocery-anchored shopping centers totaling 3,946,929-square-feet.