{"id":251805,"date":"2010-01-30T15:48:13","date_gmt":"2010-01-30T20:48:13","guid":{"rendered":"http:\/\/chicagopressrelease.com\/?p=14776"},"modified":"2010-01-30T15:48:13","modified_gmt":"2010-01-30T20:48:13","slug":"phillips-edison-acquires-aurora%e2%80%99s-prairie-point-shopping-center","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/251805","title":{"rendered":"Phillips Edison acquires Aurora\u2019s Prairie Point Shopping Center"},"content":{"rendered":"

\"\"Phillips Edison and Company’s Fund IV announced today its acquisition of Prairie Point, a 93,000-square-foot shopping center located in Aurora, Illinois<\/span>, approximately 30 miles west of Chicago<\/span>.<\/p>\n

The shopping center was acquired through an all-cash transaction.<\/p>\n

It is anchored by Dominick’s Finer Foods, a Chicago<\/span>-based supermarket chain which is part of Safeway Inc.<\/p>\n

“The Prairie Point shopping center is a great example of what we are looking to acquire across the country in top markets such as Chicago<\/span>. <\/span><\/p>\n

Anchored by recently remodeled, higher-volume Dominick’s and located in a growth submarket of the Chicago MSA, this center will produce a steady return for our investors,” says John Bessey<\/span>, President.<\/p>\n

“The anchor tenancy, the growth of the population in the area, and the center’s location on a high-traffic corner make it a solid investment.”<\/p>\n

Prairie Point is Phillips Edison<\/span>’s first acquisition in the Greater Chicago MSA and the seventh property in the $300 million<\/span> Phillips Edison Opportunity Fund IV portfolio.<\/p>\n

The fund focuses on acquiring value-add and grocery-anchored assets in growth markets.<\/p>\n

“This transaction demonstrates Phillips Edison<\/span>’s position as one of the few national shopping center operating companies that has the debt and equity in place to purchase value-add and opportunistic retail in the current market,” said Hal Scudder<\/span>, Chief Investment Officer.<\/p>\n

Developed in 1998, Prairie Point is located at the southeast corner of Eola Road and E. New York Street and is well positioned to service the grocery needs of Aurora<\/span> and western Naperville<\/span> communities.<\/p>\n

The city of Aurora<\/span> is located approximately 30 miles west of downtown Chicago<\/span> and is the second largest city in the state of Illinois<\/span>.<\/p>\n

Phillips Edison<\/span> & Company is a fully integrated retail real estate company which owns and manages more than 240 neighborhood and community shopping centers totaling over 26 million square feet in 35 states.<\/p>\n

The company has headquarters in Cincinnati<\/span> and Salt Lake City<\/span>, as well as regional offices across the country.<\/p>\n

For more information, visit phillipsedison.com<\/a>.<\/p>\n

<\/img><\/a>
\n<\/img><\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Phillips Edison and Company’s Fund IV announced today its acquisition of Prairie Point, a 93,000-square-foot shopping center located in Aurora, Illinois, approximately 30 miles west of Chicago. The shopping center was acquired through an all-cash transaction. It is anchored by Dominick’s Finer Foods, a Chicago-based supermarket chain which is part of Safeway Inc. “The Prairie […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-251805","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/251805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=251805"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/251805\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=251805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=251805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=251805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}