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RETURN TO NEWS INDEX Ohio company buys two Publix-anchored shopping centers
By Mark Holan
Tampa Bay Business Journal
Published: Apr 9, 2013
Phillips Edison–ARC Shopping Center REIT Inc. said it has acquired Lutz Lake Crossing in Lutz and Publix at Seven Hills in Spring Hill.
The Cincinnati, Ohio-based company did not disclose the price in a U.S. Securities and Exchange Commission filing on Tuesday, but the information is expected to become public in a subsequent filing.
Lutz Lake Crossing is a 64,986-square-foot shopping center 15 miles north of Tampa. It is anchored by a Publix grocery store, and about 86 percent occupied.
Publix at Seven Hills is 91 percent occupied. The center is 72,590 square feet.
The acquisitions bring the REIT's total portfolio to 39 properties with 14 leading grocers in 16 states. The portfolio has an aggregated purchase price of approximately $486.3 million.
Mark Holan's beats include commercial real estate and residential real estate.
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