Phillips Edison Grabs Moreno Valley Retail

Phillips Edison Grocery Center REIT II has purchased Moreno Marketplace in Moreno Valley.

Stater Bros. anchors the 78,000 square-foot center, which was built in 2008. Other tenants include Fantastic Sams, Subway and Wells Fargo. Phillips Edison has the option of expanding the Moreno Marketplace by another 16,000 square feet. The center is in the Rancho Bellago neighborhood, near the intersection of Moreno Beach Drive and Cactus Avenue.

Phillips Edision, based in Cincinnati, owns 47 grocery-anchored shopping centers across the country, totaling 5.7 million square feet.