KPR Centers has acquired a $180 million portfolio of shopping centers from Kimco, including four prime locations in Florida. Among these properties are two Target-anchored centers in Lakeland – Lakeland Park Center and Shoppes of Lakeland – both fully leased at 100%. The former spans 174,439 square feet and boasts popular retailers such as Ashley Furniture, TJ Maxx and Burlington. Meanwhile, the latter covers an impressive 232,313 square feet with tenants like Dick’s Sporting Goods, Ross Dress for Less,Floor & Décor,PetSmart,and ULTA.
The remaining Florida properties included in this transaction are Treasure Coast Commons located in Jensen Beach with notable tenants such as Fresh Market,Micheal’s,and Total Wine;and Vista Plaza situatedin Stuart featuring anchor stores like Fresh Market,Micheal’s,and Total Wine.
In total,the eight properties encompass over1.5 million square feet of spaceand were almost fully occupied at the timeof sale.The average price per center was approximately $22.5 million,making this a significant investment for KPR Centers.
This acquisition marks another successful move by KPR to expand their retail portfolio across strategic locations within the US market.
