Phillips Edison & Company Acquisition of Westgate North

United States

Deal value: $29.5 million

Acquisition of Westgate North, a 95,000 SF grocery-anchored center in Houston, TX, anchored by Kroger.

Phillips Edison & Company's acquisition of Westgate North is driven by a strategic focus on grocery-anchored retail centers, which offer stable cash flow and resilience against e-commerce disruption. The presence of Kroger as an anchor tenant ensures consistent foot traffic and tenant demand. The timing reflects strong fundamentals in necessity-based retail and a desire to expand in high-growth, affluent urban markets like Houston.