Acquisition of Pinecrest Strip Center

Deal value: $18,500,000

Phillips Edison & Company acquired Pinecrest Strip Center, a 65,000 sq ft convenience retail property in Miami, FL, anchored by Walgreens and Dollar Tree.

The acquisition of Pinecrest Strip Center by Phillips Edison & Company is driven by a strategic focus on high-quality, necessity-based retail assets in strong demographic markets. The property’s anchors, Walgreens and Dollar Tree, provide stable, essential retail demand, while Miami’s robust population growth and resilient retail fundamentals make this a timely opportunity. The investment aligns with Phillips Edison’s belief in the long-term value and defensive characteristics of grocery-anchored and convenience retail centers, especially amid evolving consumer preferences and economic uncertainty.