Phillips Edison & Company Acquires Center in Omaha

BALTIMORE, May 5 /PRNewswire/ -- Phillips Edison & Company, a retail real estate owner, manager and developer, announced the purchase of Deerfield Plaza in Omaha, Nebraska. This center consists of 129,914 square feet anchored by Baker's Supermarket and Walgreens.

"This is the second grocery-anchored acquisition in Omaha for Phillips Edison," said Lyn Harper, Acquisitions Officer. "While the submarket has recently seen increased new development, we believe there continues to be a place for the community anchored center. Our plan is to strengthen the position of the center in the neighborhood through new leasing and minor upgrades. Phillips Edison believes strongly in the fundamentals of the healthy markets of the Central States and hopes to continue to purchase more centers similar in quality and location to Deerfield."

Phillips Edison & Company, with offices in Baltimore, Maryland, Cincinnati, Ohio and Salt Lake City, Utah, owns and manages 2258 neighborhood and community shopping centers totaling over 25 million square feet in 35 states. Specializing in the acquisition and redevelopment of under-performing grocery anchored shopping centers, Phillips Edison & Company is a fully integrated real estate company that acquires, develops, redevelops, leases and manages its retail real estate portfolio. For general and leasing information for Phillips Edison and Company, please view the website at www.phillipsedison.com .