BALTIMORE, March 12 /PRNewswire/ — Phillips Edison & Company, a retail real estate owner, manager and developer, announced the purchase of Orchard Plaza in Altoona, Pennsylvania. Orchard Plaza is an 83,438 square foot center anchored by Big Lots.
“Our program to acquire quality shopping centers in the Commonwealth of Pennsylvania continues with this key purchase. We acquired Orchard Plaza, in no small part due to the quality of the location within Altoona. It provides
us the opportunity to re-lease and re-position this viable property in a key market and gives us a strong foothold in Blair County as we seek to purchase other value-add properties within central Pennsylvania,” said Jay Vigdor, Acquisitions Officer for Phillips Edison.
Phillips Edison & Company, with offices in Baltimore, Maryland, Cincinnati, Ohio and Salt Lake City, Utah, owns and manages 219 neighborhood and community shopping centers totaling over 24 million square feet in 34 states. Specializing in the acquisition and redevelopment of under-performing grocery anchored shopping centers, Phillips Edison & Company is a fully integrated real estate company that acquires, develops, redevelops, leases and manages its retail real estate portfolio. For general and leasing information for Phillips Edison and Company, please view the website at http://www.phillipsedison.com.
SOURCE Phillips Edison & Company
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