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Monday, July 12, 2010

Johnson Creek Shopping Center Acquisition

Clackamas, Oregon - Net Lease Properties News today is that Phillips Edison & Company's Fund IV announced its purchase of Johnson Creek shopping center. This Commercial Real Estate is a 106,709-square-foot shopping center located in Clackamas, Oregon. Clackamas is a suburb of Portland. The shopping center was acquired through an all-cash transaction. It is anchored by Trader Joe's, Walgreens and Wholesale Sports.

This Commercial Real Estate shopping center acquisition focus on well-located anchored properties. The center's anchor tenancy and prime location in a strong retail corridor just off I-205 make it an attractive investment.

"This transaction demonstrates Phillips Edison's position as one of the few shopping center operating companies that has the debt and equity in place to purchase value-add and opportunistic shopping centers throughout the United States," said Hal Scudder, Chief Investment Officer.

The Johnson Creek Shopping Center is located at the intersection of SE Johnson Creek Boulevard and SE 82nd Avenue and is well positioned to service the residents of Portland suburbs.

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