TAMPA, FL-Kite Realty Group Trust, a real estate company based in Indianapolis, has acquired Lithia Crossings, an 81,000-square-foot shopping center on Lithia-Pinecrest Road in south Hillsborough County. The company has purchased the retail center for an amount of $13.25 million.
Kite Realty has bought the center at an 8% cap rate. The center, situated near FishHawk Ranch, is approximately 96% occupied. Panera Bread, Starbucks and Stein Mart and Cold Stone Creamery have occupied space in the shopping center. For the full story, go to Tampa Bay Business Journal .
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