Phillips Edison Grocery Center REIT II, an entity of Cincinnati-based Phillips Edison & Co., bought the Fairfield Commons shopping center at Wadsworth Boulevard and First Avenue for $34.28 million on Feb. 25, Jefferson County property records show.
The center has about 143,400 square feet of retail space anchored by the Sprouts Farmers Market that opened in January. It was the grocery brand’s first location in Lakewood.
Fairfield Commons was built in 1985 and its tenants include TJ Maxx, Planet Fitness, Rue 21, the Mattress Firm and CitiFinancial. Stand-alone Chili’s and Black-Eyed Pea restaurants also were included in the acquisition.
In a prepared statement, Phillips Edison & Co. said the deal was part of its strategy to build a portfolio of grocery-anchored shopping centers in growing markets. The real estate company already owns the King Soopers-anchored Foothills Shopping Center in Lakewood and the Safeway-anchored Kipling Marketplace in Littleton.