CINCINNATI, Oct. 13, 2015 /PRNewswire/ -- Phillips Edison Grocery Center REIT II, Inc. (the "Company") today announced the expansion of its portfolio with the acquisition of another property, Shoregate Town Center, in the state of Ohio.
Shoregate Town Center is a 313,776 square foot grocery store-anchored shopping center in Willowick, Ohio, a northeast suburb of Cleveland. The center is anchored by Giant Eagle, the number one grocer by market share in the Cleveland area. In addition to the Giant Eagle grocery anchor, the center is co-anchored by a 44,370 square foot Marc's grocery store. Shoregate Town Center also features key national and regional tenants Pat Catan's, Subway, Sherwin Williams, Sally Beauty, Planet Fitness, Pet Supplies Plus, Dollar General and GNC.
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 October 12, 2015, the Company owned and managed an institutional quality retail portfolio consisting of 41 grocery-anchored shopping centers totaling 5.1 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.