Pharma Investments, Ventures & Law Weekly
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Phillips Edison & Company
Phillips Edison Acquires Silver State Plaza
December 28th, 2008
Phillips Edison & Company, a retail real estate owner, manager and developer, announced the purchase of Silver State Plaza in Reno, Nevada today. This center consists of 155,647 square feet and is anchored by Fresh & Easy Neighborhood Market and Dollar Tree. "This demonstrates the ability to complete acquisitions in today's challenging market conditions," said George Garvin, Acquisitions Officer for the Western States. Phillips Edison purchased Silver State Plaza even though its anchor tenant, Mervyn's, declared bankruptcy and decided to close its store during escrow. "We'll now proceed with an ambitious re-tenanting program to lease up almost half of the center and to...
Source: Pharma Investments, Ventures & Law Weekly (2008-12-28)
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