Phillips Edison–ARC Shopping Center REIT has acquired Yorktown Centre, a 196,728 square foot shopping centre located in Erie, Pennsylvania, approximately 100 miles northeast of Cleveland, Ohio.
Yorktown Centre is currently 100 per cent occupied.
Yorktown Centre is anchored by a Giant Eagle grocery store. Giant Eagle is the number two grocer by market share in the Erie, Pennsylvania market.
The acquisition of Yorktown Centre brings the company's total portfolio to 53 properties with 21 leading grocers in 19 states, with an aggregate portfolio purchase price of approximately USD767.7m.