CINCINNATI, Nov. 18, 2015 /PRNewswire/ -- Phillips Edison Grocery Center REIT II, Inc. (the "Company") today announced it has acquired two grocery-anchored shopping centers, expanding the Company's portfolio in Arizona and Florida.
51st and Olive Square is an 88,225 square foot grocery store-anchored shopping center in Glendale, Arizona, a northwest suburb of Phoenix. The center is anchored by Fry's Food and Drug grocery store, the number one grocer by market share in the Phoenix area. 51st and Olive Square also features key national tenants Leslie's Poolmart, Papa Murphy's and the UPS Store.
Grand Bay Plaza is a 77,792 square foot grocery store-anchored shopping center in Fort Myers, Florida. The center is anchored by Publix, the number one grocer by market share in the Fort Myers area. Grand Bay Plaza also features key national and regional tenants Sherwin Williams, First Choice Haircutters, Coast Dental and Subway.
The Company's sponsor, Phillips Edison, has a robust acquisitions pipeline managed by a national, in-house acquisitions team from which it continues to source opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
About Phillips Edison Grocery Center REIT II, Inc.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust 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. As of November 18, 2015, the Company owned and managed an institutional quality retail portfolio consisting of 49 grocery-anchored shopping centers totaling 5.9 million square feet of gross leasable area. For more information on the Company, please visit the website at www.grocerycenterREIT2.com.
This press release contains forward-looking statements about our business, including, in particular, statements about our plans, strategies and objectives. You can generally identify forward-looking statements by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue" or other similar words. You should not rely on these forward-looking statements because the matters they describe are subject to the factors detailed under Risk Factors in our most recent Form 10-K and subsequent Forms 10-Q on file with the Securities and Exchange Commission as well as other known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.
SOURCE Phillips Edison Grocery Center REIT II, Inc.