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Dec. 13, 2013

Phillips Edison-ARC Shopping Center REIT Inc. Acquires Three Grocery-Anchored Shopping Centers, Including Golden Town Center

By Gabriel Circiog, Associate Editor

Phillips Edison-ARC Shopping Center REIT Inc. recently announced the acquisition of three grocery-anchored shopping centers. The acquisitions will expand the REIT’s presence in Maryland, Colorado and Minnesota and bring the total number of properties acquired by the company in the last quarter to 14.

The Colorado property included in the deal is the Golden Town Center, a 117,882-square-foot shopping center located at 17121 South Golden Road in Golden, a suburb of Denver situated 16 miles west of the city. The shopping center is anchored by a 69,693-square-foot King Soopers grocery store. In the Denver metropolitan statistical area, King Soopers is the number one grocer by market share. Golden Town Center features other tenants, including H&R Block, Big 5 Sporting Goods and JP Morgan Chase.

The other two properties included in the deal are the Collington Plaza, a 121,915-square-foot grocery store-anchored shopping center in Bowie, Md.; and Northstar Marketplace, a 96,356-square-foot shopping center located in Ramsey, Minn.

In other local news, TruStar Energy recently announced it has broken ground on a large time-fill / fast-fill CNG fueling station for the City of Denver. Scheduled to be completed in the spring of 2014, the station will handle simultaneously 136 vehicles via time-fill hoses and two vehicles at a fast-fill dispenser. The Denver station is TruStar Energy’s third project in Colorado. Jose Cornejo, manager of Denver Public Works, said:

“Denver Public Works is very excited to grow our CNG fleet with the installation of the new fueling station,” says Jose Cornejo, manager of Denver Public Works. “Overall, Denver is conscious of the way we utilize our fleet and fuel sources. The new CNG station will allow our fleet to be more sustainable while also saving tax payer money.”

For more Denver market data, click here.

Photo Courtesy of: www.phillipsedison.com

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