Baltimore, MD-based Phillips Edison &Co, owner and manager of 155 neighborhood and community shopping centers in 26 states, has acquired four shopping centers in separate transactions over the past month. The company specializes in the buying of underperforming retail centers that are primarily grocery-anchored, with redevelopment in mind. The company operates a full-service in-house real estate operation and acquires, develops, leases and manages its entire portfolio. The centers acquired are as follows: