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Grocery-Anchored Shopping Centers

Phillips Edison & Company (PECO) is a prominent name within the retail real estate sector, having been operational since 1991. Specializing in grocery-anchored shopping centers the company has 300 locations under its ownership across the United States, Phillips Edison's influence and market share in the country is vast. PECO is, like many similar companies, run as a Real Estate Investment Trust.

Origins and Expansion

Established in the early '90s by Jeffrey Edison and Michael Phillips, PECO's initial objective was to acquire and manage retail properties with potential for growth. The company's strategy largely revolved around identifying undervalued assets and enhancing their market value. In a market with other noteworthy competitors such as Simon Property Group and Kimco Realty, PECO carved a distinct path for itself by focusing primarily on properties that were anchored by grocery stores. Even if they’re not unique in this, it's an area that PECO has managed to perform well in over the years. One consistent aspect of PECO's growth trajectory has been its willingness to enter partnerships and perform acquisitions.

The Properties

PECO’s properties span a vast geographical footprint in the United States. Typically, the shopping centers they own and manage are strategically located in areas with high visibility and easy access, often at the intersection of major roads. The centers are typically a bustling environment with lots of traffic from both cars and pedestrians, with grocery stores being the primary draw, supplemented by an assortment of other retail establishments – from cafes and restaurants to fitness centers and specialty shops. Major grocery chains such as Kroger and similar establishments can lease their locations without needing to own the properties outright.

Peco Is a REIT

A Real Estate Investment Trust (REIT) is a company that specializes in owning, overseeing, or financing income-producing properties in diverse real estate segments. Designed to provide regular income streams, possible asset appreciation, and tax benefits, REITs issue shares to the public which can be traded on major stock exchanges. By law, they must distribute at least 90% of their taxable income to shareholders in the form of dividends.