POST FALLS, IDAHO — Phillips Edison Development Co. has acquired a 50-acre land site, which is located at the northeast corner of State Highway 41 and Prairie Avenue in Post Falls, from Vision First LLC. The company plans to develop a 465,000-square-foot community shopping center on the site. The center will feature a grocery component and other large-box anchors, as well as restaurants and in-line specialty stores. Additionally, the center will anchor Vision First’s Prairie Crossing, a 184-acre planned mixed-use development. The acquisition price was not disclosed.