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Four Florida Retail Centers Picked by KPR – Connect CRE

by | Mar 14, 2024 | 0 comments

KPR Centers purchased a portfolio of shopping centers owned by Kimco for $180 million. Four of the centers are situated in Florida.

Two Lakeland shopping centers were part of the deal, Lakeland Park Center and Shoppes of Lakeland. Both were Target anchored centers. Both Lakeland properties are 100% leased. Shoppes of Lakeland is 174,439 square feet and includes Ashley Furniture, TJ Maxx and Burlington. Lakeland Park Center is 232,313 square feet and tenants include Dick’s Sporting Goods, Ross Dress for Less, Floor & Décor, PetSmart and ULTA.

The other Florida properties included in the transaction were Treasure Coast Commons in Jensen Beach whose tenant list includes Fresh Market, Michael’s and Total Wine and Vista Plaza in Stuart, whose anchor tenants are Fresh Market, Michael’s and Total Wine.

The eight properties total 1.5 million square feet and were 96% leased at the time of sale. The average price of each center was was $22.5 million.

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