Phillips Edison & Company, Inc. (PECO) is an internally managed real estate investment trust (REIT) and one of the largest owners and operators of grocery-anchored neighborhood shopping centers in the United States. Founded in 1991, the company focuses on acquiring, leasing, and managing retail properties that are anchored by the number one or number two grocer by sales in their respective trade areas. Its top grocery anchors include major chains such as Kroger, Publix, Albertsons, and Ahold Delhaize.
PECO generates the vast majority of its revenue from leasing retail space to a diversified mix of national, regional, and local tenants. Approximately 70% of its annualized base rent (ABR) is derived from retailers providing necessity-based goods and services, which insulates the portfolio from broader economic downturns and e-commerce disintermediation. The company's properties serve as critical last-mile delivery hubs for its tenants' omnichannel strategies. In addition to its wholly-owned real estate portfolio, PECO operates a third-party investment management business, providing property management and advisory services to unconsolidated institutional joint ventures and private funds.
Geographically, PECO's footprint spans over 30 states, with a strong presence in fundamentally sound demographic markets, including the Sun Belt and high-growth U.S. cities. The company's competitive position is driven by its vertically integrated operating platform, its disciplined focus on necessity-based retail, and its strong tenant retention rates. By maintaining high occupancy levels and executing a strategy focused on operational excellence, PECO continues to create long-term value in the retail real estate sector.
