Phillips Edison arm buys plaza in Woodlawn

The Glenwood Crossing shopping center in Woodlawn has been acquired by Phillips Edison Grocery Center REIT II Inc.

The plaza at 10595 Springdale Pike is a 101,021 square foot shopping center with Kroger as its anchor store. It also includes a Kroger gas station as well as stores for Dollar Tree, GNC, Pizza Hut and Metro PCS.

Glenwood Crossing was formerly owned by Glenwood Crossing LLC, according to the U.S. Securities and Exchange Commission. The shopping center was purchased for $7.1 million.

Grocery Center REIT II has also recently acquired shopping centers in Maryland and Minnesota. The real estate investment trust is sponsored by Blue Ash-based Phillips Edison, which ranked 40th on the 2014 Deloitte Cincinnati USA 100 list of the region’s largest privately held companies. The parent company had $233 million in revenues for 2013 and 275 employees.

Phillips Edison Grocery Center REIT I Inc. is a public non-traded real estate investment trust that seeks to acquire and manage grocery-anchored neighborhood shopping centers. The REIT currently manages 27 shopping centers.