Kroger-Anchored Shopping Center Sold, Market briefs

In Houston, Phillips Edison & Co. has added another Houston property to its portfolio with the purchase of Easton Commons, a Kroger-anchored shopping center totaling 203,728 sq ft.

Located on Highway 6 and West Road in northwest Houston, Easton Commons was the largest of shopping centers purchased by Phillips Edison in the third quarter. Tenants include Kroger, Eos Fitness, CareNow Urgent Care, Black Rock Coffee Bar, MOD Pizza, and Wingstop.

The Cincinnati-based real estate investment trust reported the purchase of three shopping centers and land parcels during the third quarter for a combined $181.8 million. The other acquisitions were Alafaya Square, a 168,532-SF center anchored by Publix in an Orlando, Fla. suburb, and South Shore Commons, a 157,574-SF center on Staten Island, N.Y.

In Earlier this year, Phillips Edison purchased Firethorne Plaza, a 29,986, SF shopping center in the Katy area. The company also added Creekside Park Village, a 74,641-SF center shadow anchored by H-E-B in The Woodlands to its portfolio.

The Easton Commons deal follows the recent sales of three other nearby shopping centers along Highway 6. Partners Capital, the investment platform of Partners Real Estate, purchased the Town Square Shopping Center, The Exchange Shopping Center, and Boardwalk Shopping Center.