ORLANDO, FL-Kite Realty Group Trust reports it has acquired a Publix-anchored shopping center here for nearly $12 million.
The Indianapolis, IN-based firm states that the 69,000-sf shopping center was acquired for $11.9 million. The center is 99% leased and is located near iWaterford Lakes Village, a 77,948-sf shopping center anchored by Winn Dixie, which is also owned by Kite Realty. The company states that Waterford Lakes and its newly acquired property draw from a solid trade area surrounding the University of Central Florida as well as the Eastwood, Stoneybrook, and Waterford Lakes master planned communities. The company did not reveal the identity of the seller.
“This property is a well-positioned grocery-anchored center with strong credit. We will continue to selectively acquire well-located assets throughout the Midwest, Southeast, and Texas markets,” states John A. Kite, the company’s chairman and CEO.
As of Sept. 30, 2012, Kite Realty Group owned interests in a portfolio of 60 operating and redevelopment properties totaling approximately 8.9 million sf and an additional two properties currently under development totaling 600,000 sf.