Phillips Edison & Company is a real estate investment trust that owns and operates grocery-anchored shopping centers. Additionally, Co. operates an investment management business providing property management and advisory services to unconsolidated joint ventures and one private fund. Co.'s portfolio primarily consists of neighborhood centers anchored by grocer tenants by sales within their respective formats by trade area. Co.'s tenants are a mix of national, regional, and local retailers that primarily provide necessity-based goods and services. Substantially all of Co.'s business is conducted through Phillips Edison Grocery Center Operating Partnership I, L.P.