Phillips Edison Acquires Oregon Shopping Center

June 28, 2010
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Phillips Edison & Company’s Fund IV recently announced its June 16 acquisition of Johnson Creek, a 106,709-square-foot shopping center located in Clackamas, Ore., a suburb of Portland. The shopping center was acquired through an all-cash transaction and is anchored by Trader Joe’s, Walgreens, and Wholesale Sports.

Johnson Creek is Phillips Edison’s seventh acquisition in Oregon, and the eighth property in the $300 million Phillips Edison Shopping Center Fund IV portfolio, which focuses on acquiring value-add grocery-anchored assets in growth markets.

Phillips Edison & Company owns and manages more than 240 neighborhood and community shopping centers totaling over 26 million square feet in 35 states, and is headquartered in Cincinnati and Salt Lake City.