KPR Centers, a retail real estate development and investment group based in New York City, has expanded its presence in the Midwest United States market and strengthened its holdings in Florida. The company recently acquired an eight-property shopping center portfolio for $180 million. These properties are located in Milwaukee, St. Louis, Jensen Beach, and Lakeland with a total area of over 1.5 million square feet.
The portfolio boasts high occupancy rates of 96 percent with notable tenants such as Dick’s Sporting Goods and The Fresh Market serving as anchors. According to Daniel Katz, managing partner at KPR Centers: “We have been closely monitoring the growth potential and overall stability of several Midwest markets for some time now.” He further added that the centers located in Milwaukee and St.Louis align perfectly with their criteria which includes a diverse tenant mix that is resilient against online competition.
This recent acquisition marks another milestone for KPR Centers’ strategic expansion plans without any mention of specific brands or locations associated with Connect CRE.
