Phillips Edison-ARC Shopping Center REIT Inc. Acquires Cub Foods Grocery Store-Anchored Shopping Center in Minnesota

CINCINNATI, June 20, 2013 /PRNewswire/ -- Phillips Edison–ARC Shopping Center REIT Inc. (the "Company") today announced the acquisition of Savage Town Square, an 87,181 square foot shopping center anchored by a Cub Foods grocery store and located in Savage, Minnesota, a suburb of Minneapolis. This acquisition further diversifies the portfolio as it is the first Cub Foods grocery store-anchored property acquired by the Company.  Savage Town Square is currently 100 percent occupied and anchored by a 68,860 square foot Cub Foods grocery store, which is on a long-term lease until November 2023. Cub Foods is the No. 1 grocer by market share in the Minneapolis market. When combined with the Cub Foods lease, 75 percent of the rents within the shopping center come from national tenants.

(Logo: http://photos.prnewswire.com/prnh/20130204/PH54119LOGO )

The acquisition of Savage Town Square brings the Company's total portfolio to 42 properties with 16 leading grocers in 16 states, with a portfolio aggregate purchase price of approximately $533.5 million. The Company is a public non-traded REIT focused on the acquisition and management of well-occupied grocery-anchored neighborhood shopping centers throughout the United States.

About Phillips Edison – ARC Shopping Center REIT Inc. 
Phillips Edison-ARC Shopping Center REIT Inc. is a public non-traded REIT that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States.  The REIT is co-sponsored by two industry leaders: Phillips Edison & Company, who has acquired over $2.3 billion in shopping centers throughout the United States, and AR Capital, LLC, a real estate investment program sponsor dedicated to governance best practices.  As of June 20, 2013, the Company owned, directly or indirectly through a joint venture in which it has a controlling interest, and managed an institutional quality retail portfolio consisting of 42 grocery-anchored shopping centers totaling 4,198,907 square feet.  For more information on the company, please visit the website at www.phillipsedison-arc.com.  

SOURCE Phillips Edison - ARC Shopping Center REIT Inc.



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