Phillips Edison–ARC Shopping Center REIT Inc. today announced the acquisition of Rivergate shopping center, a 207,567 square foot shopping center anchored by a Publix grocery store. Rivergate is located in Macon, Georgia. Rivergate is currently 84 percent occupied. When combined with the Publix lease, 71 percent of the rents for the shopping center are derived from national tenants. 

The acquisition of Rivergate brings the Company’s total portfolio to 48 properties with 19 leading grocers in 18 states, with a portfolio aggregate purchase price of approximately $706 million.

The Company is a public non-traded REIT focused on the acquisition and management of well-occupied grocery-anchored neighborhood shopping centers throughout the United States.