CINCINNATI—Phillips Edison—ARC Shopping Center REIT in Cincinnati has acquired Baker Hill Center, a 135,355-sq.-ft. shopping center located in Glen Ellyn, Ill. The center is anchored by a Dominick’s grocery store and brings Phillips Edison—ARC Shopping Center REIT’s total portfolio to 20 properties with an aggregate purchase price of approximately $222.6 million.
Currently, Baker Hill is 98.2 percent occupied. Other tenants at the center include Gymboree, Nationwide and Jimmy John’s, among others.
Phillips Edison-ARC Shopping Center REIT Inc. is a public non-traded REIT that acquires and manages grocery-anchored neighborhood shopping centers. The REIT is co-sponsored Phillips Edison & Company and AR Capital L.L.C.