Foothill Park Plaza, the 96,390 Square footshopping center at the southwest corner of Myrtle and foothill, has been sold to Phillips Edison & Co for an undisclosed amount. Details.
The Phillips Edison website says: "Phillips Edison & Company, Inc. (PECO) is one of the nation’s largest owners and operators of grocery-anchored shopping centers. Our diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in strong demographic markets throughout the United States."
- Brad Haugaard
What does that mean for nearby residents? Are the stores in the center going to change? Will retail prices go up when the rental prices on those stores increase?
ReplyDeleteIt doesn’t take a rocket scientist to know that when prices go up rent, price increases are passed onto the consumer. This is very bad news for the small businesses owners who are already struggling. Vons will survive but the small businesses won’t. Welcome to corporate America!
ReplyDelete