INDIANAPOLIS—On the eve of Kite Realty Group Trust’s merger with Inland Diversified Real Estate Trust, first announced in February, a set of anchor and national tenants have just opened up at several of its properties across the country. These new tenants will occupy a total of about 151,000-square-feet and include Publix Supermarkets at King’s Lake Square in Naples, FL; Harris Teeter, Massage Envy, and Sleepy’s at Parkside Town Commons in Raleigh, NC; Total Wine & More at International Speedway Square in Daytona Beach, FL; Panera Bread at Bolton Plaza in Jacksonville, FL; and Walgreens at Four Corner Square in Maple Valley, WA.
“The continued leasing velocity we are experiencing can be attributed to three factors: the strength of our real estate, the experience and skill of our team, and the shortage of quality retail supply in our various markets,” says John A. Kite, the company’s chairman and chief executive officer. “We look forward to further enhancing our leasing production through our recent additions to our leasing team as we prepare to integrate our expanded portfolio.”
As of March 31, 2014, Kite Realty owned interests in a portfolio of 68 operating and redevelopment properties with about 11.8-million-square-feet. But following the merger, which should close on or after July 1, the company will also include Inland Diversified’s portfolio of 57 properties. The combined company will retain the name Kite Realty Group Trust, and open new markets for Kite, including Westchester County in New York State; Bayonne, NJ; Las Vegas; Salt Lake City; and Virginia Beach, VA.