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Local realty group expanding portfolio
Kite Realty purchased two shopping centers in S.C.
Updated: Friday, 21 Dec 2012, 10:42 PM EST
Published : Friday, 21 Dec 2012, 7:40 PM EST
INDIANAPOLIS (WISH) - A local development company said it is adding to its list of properties. Kite Realty Group Trust reported the purchase of two shopping centers in Greenville, South Carolina.
One is a shopping center called Shops at Plaza Green. The complex is anchored by stores such as Old Navy and Bed Bath and Beyond.
A statement from Kite said the purchase price is $28.8 million.
The other shopping center is anchored by a Publix grocery store. Kite bought that property for $9.1 million.
John A. Kite, the company’s Chairman and Chief Executive Officer, said in the statement:
“We plan to continue increasing our presence in the Southeast by completing our development projects and acquiring well-located assets.”
The Kite company owns more than 60 developments in nine states. In Indiana, its properties can be found from Crown Point to Evansville. Others are distributed from the Pacific Northwest to New Jersey.
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