PECO Joint Venture Acquires 266K Sq Ft Sprouts-Anchored Shopping Center
PECO sits 19% above its 52-week low of $32.84.
Summary
Phillips Edison & Company's joint venture acquired Oracle Crossings, a 266,000-square-foot, 96% leased, Sprouts-anchored shopping center in Tucson, Arizona. This acquisition adds a high-quality, necessity-based retail asset to PECO's managed portfolio. The property is located in an affluent and growing submarket, supporting durable income and long-term growth for the REIT. This follows the strong Q1 2026 financial results reported by PECO in April.
At the time of this announcement, PECO was trading at $39.00 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $5B. The 52-week trading range was $32.84 to $41.07. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.