PHILLIPS EDISON BUYS SHOPPING CENTER IN IOWA FOR $19.7M

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BETTENDORF, IOWA — Phillips Edison–ARC Shopping Center REIT Inc. has acquired Duck Creek Plaza, a 134,229-square-foot, grocery-anchored shopping center in Bettendorf, for $19.7 million. Inland Western Bettendorf Duck Creek LLC was the seller. A 63,706-square foot Schnucks grocery store, one of the largest privately owned grocers in the Midwest, anchors the center. The 92.7 percent-occupied plaza also features a 28,270-square-foot Marshalls store and is located in the Quad Cities region that borders Iowa and Illinois.

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