Phillips Edison & Company Acquires Commerce Square
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Phillips Edison & Company Acquires Commerce Square

BALTIMORE, Jan. 14 /PRNewswire/ — Phillips Edison & Company, a retail real estate owner, manager and developer, announced the purchase of Commerce Square in Brownwood, Texas. Commerce Square is a 167,048 square foot community shopping center anchored by Goody's and Staples.

Lyn Harper, Acquisitions Officer for Phillips Edison & Company said, “Commerce Square is our tenth Texas acquisition but the first outside of a major Texas metropolitan area. Currently, 20% of the Phillips Edison’s 225 properties are in markets of comparable size to Brownwood. We are attracted to the location in the heart of Brownwood's retail area and plan on completing the physical renovation and re-leasing at Commerce Square. We look forward to other opportunities to bring updated community retail to the smaller and growing markets across Texas.”

Phillips Edison & Company, with offices in Baltimore, Maryland, Cincinnati, Ohio and Salt Lake City, Utah, owns and manages 227 neighborhood and community shopping centers totaling over 24 million square feet in 35 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
www.phillipsedison.com.

SOURCE Phillips Edison & Company

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