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MAPLE VALLEY, WA-Publicly traded Kite Realty Group Trust has acquired the 73,000-sf Four Corner Square shopping center for $10.5 million. The property is 90% occupied. The sale closed last week.The Indianapolis-based retail REIT is planning a redevelopment and expansion of the center. To help make it happen, it has an adjacent 10-acre parcel under contract. The goal is to attract both national and regional tenants. No timeline has been announced.Kite Realty owns interests in 35 operating properties totaling five million sf. The company has an additional 10 properties under development that can hold an additional 1.4 million sf. Kite Realty president John Kite was unavailable for comment due to the long holiday weekend. In a prepared statement, he said the Four Corner Square is the company’s fourth Seattle-area property acquisition.

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