Phillips Edison & Company Acquires Lake Pointe Market
CINNCINATI, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of omni-channel grocery-anchored shopping centers, today announced that it has acquired Lake Pointe Market, a 96.7%-occupied, 40,600-square-foot grocery-anchored neighborhood shopping center located in Rowlett, Texas.
- CINNCINATI, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of omni-channel grocery-anchored shopping centers, today announced that it has acquired Lake Pointe Market, a 96.7%-occupied, 40,600-square-foot grocery-anchored neighborhood shopping center located in Rowlett, Texas.
- The center is shadow anchored by a Tom Thumb, the #1 grocer by sales in its three-mile trade area and one of the state’s top-ranking grocers.
- The acquisition marks PECO’s 12th shopping center in the greater Dallas/Fort Worth Metroplex.
- Optimally located at the high-traffic intersection of Dalrock Road and Lakeview Parkway, Lake Pointe Market benefits from more than two million annual visits.