NAPERVILLE, IL-The seller of a 170,000-sf shopping center, which opened last year, says its financially struggling anchor tenant is current in its rent. Indianapolis-based Kite Realty Group has spent $22.2 million so far toward an estimated $30.5-million cost to build Naperville Marketplace, anchored by a 70,000-sf Marsh Supermarkets grocery store.

However, Sun Capital Partners, Inc. has agreed to buy the 271-store grocery chain in a $41.5-million deal that could close in the third quarter, and bolster efforts to sell Naperville Marketplace by having an anchor backed by a $30-billion company. “We view that as a real positive thing,” said chief executive officer and president John A. Kite during his company’s recent earnings conference call. His company continues to monitor Indianapolis-based Marsh Supermarkets, which leases 194,902 sf in three locations. “All of our Marsh’s are current in their rent,” he added.

Kite Realty Group paid $9.5 million in 2005 for 21.6 acres on Route 59 and a partially built Super K-Mart. The REIT, which owns two grocery-anchored centers in Fox Lake and South Elgin, is financing the Naperville Marketplace project with a $11.6-million loan from LaSalle Bank.

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