Phillips Edison & Company
Phillips Edison & Company is a United States real estate investment trust focused on owning, operating, and developing grocery-anchored shopping centers.
Last updated August 31, 2026
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Overview
Phillips Edison & Company is a United States real estate investment trust, or REIT, specializing in grocery-anchored shopping centers. The company owns and operates retail properties designed around supermarkets and other essential-service tenants, with additional stores and services intended to support recurring neighborhood shopping activity. Its portfolio is concentrated in community and neighborhood shopping centers rather than regional enclosed malls or a broad mix of commercial real estate assets. The company was established in 1991 by Mike Phillips and Jeff Edison, who had previously worked for Taubman Centers. Their initial strategy was to invest in community and neighborhood shopping centers. Phillips Edison acquired its first property in 1992 and subsequently expanded through a series of private investment funds, gradually building a national platform for acquiring, developing, leasing, financing, and managing retail real estate. A significant phase of the company’s expansion involved the creation of non-traded REIT vehicles. In 2010, it launched Phillips Edison—ARC Shopping Center REIT Inc., followed in 2013 by Phillips Edison–ARC Grocery Center REIT II, Inc. In 2014, these vehicles were rebranded as Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II. The structures gave the company additional channels for raising capital and investing in grocery-oriented shopping centers outside the publicly traded REIT market. In 2015, Phillips Edison separated its Strategic Investment and Net Lease Investment business units into a standalone company called PECO Real Estate Partners. The separation allowed Phillips Edison to concentrate its stated strategy on expanding and improving a portfolio of grocery-anchored shopping centers. Its operating model includes internal teams for leasing, property management, accounting, acquisitions, dispositions, development, and financing, supporting control over much of the property life cycle. The company became a publicly traded REIT in July 2021, listing on the Nasdaq under the symbol PECO. The public listing marked a transition from its earlier private-fund and non-traded-REIT structure to a public equity platform. According to the referenced company description, Phillips Edison wholly owns 268 shopping centers and holds partial ownership interests in 21 additional facilities across a combined 31 U.S. states. Its largest tenants by leased square footage have included Publix, Kroger, Albertsons, and Walmart, reflecting its emphasis on grocery-anchored retail and necessity-oriented consumer traffic. Phillips Edison is headquartered in Sycamore Township, Ohio, and has offices in Salt Lake City, Utah, and Atlanta, Georgia. Its business is centered on the ownership and enhancement of U.S. shopping-center real estate, with grocery stores serving as anchors and smaller tenants contributing to tenant diversification and local convenience. The company’s positioning is therefore tied to essential retail, recurring occupancy demand, property-level operations, and long-term portfolio management rather than consumer products sold under a conventional retail brand.
History
Phillips Edison & Company was founded in 1991 by Mike Phillips and Jeff Edison, former employees of Taubman Centers. The founders established the business to invest in community and neighborhood shopping centers, a segment of retail real estate oriented toward local and recurring consumer needs. The company acquired its first property in 1992 and then expanded through a series of private funds, using those vehicles to acquire and develop shopping-center assets in markets across the United States. The company’s strategy increasingly emphasized grocery-anchored properties. These centers typically place a supermarket at the core of a retail property and surround it with smaller tenants such as service businesses, restaurants, and convenience-oriented retailers. Phillips Edison developed internal capabilities across leasing, property management, accounting, acquisitions, dispositions, development, and financing, allowing it to manage a substantial portion of the investment and operating process directly. In 2010, Phillips Edison launched Phillips Edison—ARC Shopping Center REIT Inc., its first non-traded REIT. In 2013, it formed a second vehicle, Phillips Edison–ARC Grocery Center REIT II, Inc. These entities broadened the company’s capital-raising and investment structure beyond private funds. In 2014, the two non-traded vehicles were rebranded as Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II, aligning their names more directly with the company’s grocery-center focus. In 2015, Phillips Edison separated its Strategic Investment and Net Lease Investment business units into a standalone company named PECO Real Estate Partners. The transaction narrowed Phillips Edison’s stated strategic focus to the growth and enhancement of grocery-anchored shopping centers. This marked an important portfolio and operating-model decision: instead of maintaining a broader combination of retail real estate strategies, Phillips Edison concentrated its identity and resources on grocery-oriented community and neighborhood properties. The company received recognition in 2016 as one of the fastest-growing private firms listed by Inc. magazine and was identified by National Real Estate Investor as the fourteenth-largest retail owner by square footage. These references reflected the scale reached by the company before its public listing, although they do not by themselves establish financial performance or valuation. In July 2021, Phillips Edison became a publicly traded REIT on the Nasdaq under the ticker PECO. The listing provided a public equity structure after years of operating through private funds and non-traded REITs. The company’s described portfolio includes 268 wholly owned shopping centers and partial ownership interests in 21 additional facilities, together spanning 31 U.S. states. Major tenants by leased square footage have included Publix, Kroger, Albertsons, and Walmart. Phillips Edison is headquartered in Sycamore Township, Ohio, with offices in Salt Lake City, Utah, and Atlanta, Georgia. Its present business is organized around the ownership, operation, development, leasing, and enhancement of grocery-anchored shopping centers throughout the United States. The company’s core proposition is based on necessity-oriented retail locations, supermarket anchors, diversified smaller tenants, and integrated real estate management rather than on a consumer-facing product line.
- 2021
Nasdaq listing
[1]Phillips Edison became publicly traded on the Nasdaq under the ticker PECO.
- 2015
Investment businesses separated
[1]Phillips Edison separated its Strategic Investment and Net Lease Investment units into PECO Real Estate Partners.
- 2014
REIT vehicles rebranded
[1]The company rebranded its non-traded REITs as Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II.
- 2013
Second non-traded REIT created
[1]Phillips Edison created Phillips Edison–ARC Grocery Center REIT II, Inc.
- 2010
First non-traded REIT launched
[1]The company launched Phillips Edison—ARC Shopping Center REIT Inc., its first non-traded REIT vehicle.
- 1992
First property acquired
[1]Phillips Edison acquired its first shopping-center property and began building a broader portfolio through private investment funds.
- 1991
Company founded
[1]Mike Phillips and Jeff Edison founded the company to invest in community and neighborhood shopping centers.
Products and positioning
A specialized U.S. retail REIT focused on grocery-anchored community and neighborhood shopping centers, with integrated capabilities spanning acquisition, development, leasing, property management, financing, and dispositions.
Retail real estate · 1991
Grocery-anchored shopping centers
Phillips Edison’s principal offering is its portfolio of grocery-anchored shopping centers across the United States. Supermarkets provide the primary traffic anchor, while adjacent tenants broaden the centers’ convenience and service mix. The company owns, leases, manages, develops, acquires, and disposes of these properties through integrated real estate functions.
Non-traded REIT · 2014
Phillips Edison Grocery Center REIT I
A non-traded real estate investment trust vehicle created through the rebranding of the company’s first Phillips Edison–ARC shopping-center REIT. It was designed to invest in grocery-oriented shopping-center real estate outside the publicly traded REIT structure.
Non-traded REIT · 2013
Phillips Edison Grocery Center REIT II
A second non-traded REIT vehicle created in 2013 and subsequently rebranded under the Phillips Edison Grocery Center REIT name. Its stated investment orientation was grocery-centered retail property.
Brand decisions
2021
Transition to a publicly traded REITOtherBackground
The company had previously expanded through private funds and non-traded REIT vehicles.
Action taken
Phillips Edison listed its shares on the Nasdaq under the ticker PECO in July 2021.
Aftermath
The company gained a public-market listing and continued operating as a publicly traded REIT focused on grocery-anchored shopping centers.
2015
Focus the company on grocery-anchored shopping centersStrategyBackground
Phillips Edison had operated Strategic Investment and Net Lease Investment business units alongside its shopping-center activities.
Action taken
The company separated those business units into PECO Real Estate Partners, allowing Phillips Edison to concentrate on growing and enhancing its grocery-anchored shopping-center portfolio.
Aftermath
Phillips Edison’s stated business focus became narrower and more closely aligned with grocery-anchored community and neighborhood retail properties.
Recent events
- Unconfirmed
Phillips Edison reaffirms 2026 FFO guidance and raises acquisitions target to $600–700M[2]
Reported:
Phillips Edison & Company reaffirmed its 2026 FFO guidance and raised its acquisitions target to $600–700 million, as reported in the headline.
- Unconfirmed
Phillips Edison & Company issues FY 2026 earnings guidance[3]
Reported:
Phillips Edison & Company, Inc. (NASDAQ: PECO) issued earnings guidance for fiscal year 2026, as reported by MarketBeat.
- Unconfirmed
Phillips Edison & Company expands joint venture with Northwestern Mutual[2]
Reported:
Phillips Edison & Company expanded its joint venture with Northwestern Mutual, as reported in the headline.
Realto launches secondary-trading platform[4]
Reported:
Realto launched its platform by executing trades in Phillips Edison & Co. Class B restricted shares.
Sources4 sources
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