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SAVAGE, MINN. — Phillips Edison–ARC Shopping Center REIT Inc. has acquired Savage Town Square, an 87,181-square-foot shopping center located in Savage, a suburb of Minneapolis. Savage Town Square is fully occupied and anchored by a 68,860-square-foot Cub Foods grocery store, which is on a long-term lease until November 2023. The purchase price was undisclosed. The acquisition of Savage Town Square brings the REIT’s total portfolio to 42 grocery-anchored properties in 16 states with an estimated value of $533.5 million.