Phillips Edison & Company is an American

REIT A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping ce ...

that owns and develops

shopping center A shopping center (American English) or shopping centre (Commonwealth English), also called a shopping complex, shopping arcade, shopping plaza or galleria, is a group of shops built together, sometimes under one roof. The first known collec ...

s throughout the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. Founded in 1991, the Company is headquartered in Sycamore Township, Ohio, and has offices in

Salt Lake City, Utah Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the Capital (political), capital and List of cities and towns in Utah, most populous city of Utah, United States. It is the county seat, seat of Salt Lake County, Utah, Sal ...

, New York City, New York and

Atlanta, Georgia Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

. The company wholly owns 268 shopping centers and has partial ownership interest in 21 other facilities in a combined 31 states. Its largest tenants by square footage leases included:

Publix Publix Super Markets, Inc., commonly known as Publix, is an employee-owned American supermarket chain headquartered in Lakeland, Florida. Founded in 1930 by George W. Jenkins, Publix is a private corporation that is wholly owned by present and ...

, Kroger, Albertsons, and

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...

History

The company was founded by Mike Phillips and Jeff Edison, former employees of Taubman Centers, to invest in community and neighborhood shopping centers. The company acquired its first property in 1992, and subsequently began investing in other properties across the U.S. through a series of private funds. In 2010, Phillips Edison & Company launched Phillips Edison—ARC Shopping Center REIT Inc., the first of two non-traded

real estate investment trusts A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

(REITs). In 2013, Phillips Edison & Company created Phillips Edison – ARC Grocery Center REIT II, Inc. Phillips Edison & Company rebranded its non-traded REITs in

014 014 may refer to: * Argus As 014 * BIND-014 * 014 Construction Unit * Divi Divi Air Flight 014 * Pirna 014 * Tyrrell 014 The Tyrrell 014 was a Formula One car, designed for Tyrrell Racing by Maurice Philippe for use in the season. The cars wer ...

as Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II. In 2015, Phillips Edison & Company separated its Strategic Investment and Net Lease Investment business units into a standalone company called PECO Real Estate Partners, allowing Phillips Edison & Company to "focus exclusively on growing and enhancing the value of its grocery-anchored shopping center portfolio." In 2016, Phillips Edison & Company was ranked in

Inc. (magazine) ''Inc.'' is an American business magazine founded in 1979 and based in New York City. The magazine publishes six issues per year, along with surrounding online and social media content. The magazine also produces several live and virtual events y ...

as one of the 5,000 fastest-growing private firms in the nation and the 14th largest retail owner by square footage by National Real Estate Investor. In July 2021, the company went public on the

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

, under symbol PECO.

Business Model

Phillips Edison & Company has in-house leasing, property management, accounting, acquisitions, dispositions, development and financing teams. The Company is focused exclusively on "investing in grocery-anchored shopping centers."

References

External links

List of U.S. REITs
{{DEFAULTSORT:Phillips Edison and Company 1991 establishments in Ohio Property management companies Real estate investment trusts of the United States Shopping center management firms Companies based in Cincinnati Financial services companies established in 1991 Real estate companies established in 1991 2021 initial public offerings Companies listed on the Nasdaq

History

Business Model

See also

References

External links