Lexington, Ky. — Hendricks Commercial Properties, a Wisconsin-based development and investment firm, has acquired The Summit at Fritz Farm, a mixed-use development in Lexington that opened in 2017. The development features a collection of more than 60 shops and restaurants that sit below modern offices and The Henry apartments.
Some components of the development that were not included in the sale include the Origin Lexington hotel and a 192-unit seniors housing community, Legacy Reserve at Fritz Farm. Hendricks did not disclose the sales price or specific aspects of the acquisition beyond the commercial space.
Hendricks acquired the development from a partnership between Swift Creek Real Estate Partners and Centennial Real Estate Management LLC, which has owned The Summit at Fritz Farm since acquiring the original developer, Birmingham, Ala.-based Bayer Properties, in 2022.
“We are excited to add Fritz Farm to our portfolio,” says Rob Gerbitz, CEO of Hendricks Commercial Properties. “This acquisition aligns with our strategic vision of investing in high-quality, experiential mixed-use properties that serve as community hubs. We look forward to building upon the strong foundation established at Fritz Farm and continuing to enhance the experience for tenants and guests alike.”
Whole Foods Market, Pottery Barn and Arhaus anchor the retail component of The Summit at Fritz Farm. Apple, Anthropologie, Alumni Hall, Ariat, Carhartt, Fabletics, Hollywood Feed, Lovesac, lululemon, Warby Parker and Williams-Sonoma are among the development’s other retailers.
Fitness and service retail concepts at the development include solidcore, Orangetheory Fitness, Hand & Stone Massage, LUSH Cosmetics, Waxing the City and Blo Blow Dry Bar. Restaurants include Shake Shack, Starbucks, Condado Tacos and CRU Food & Wine Bar.
The property also features a central green space that is pet friendly and offers seating areas, fire pits, restrooms, play areas, fountains and outdoor dining spaces. The development is also an open-container community, according to the property website.
New tenants that are in the process of joining the development include Alo Yoga and Café Patachou, according to the Lexington Herald Leader. The newspaper also reported recent departures including Reese Witherspoon’s Draper James retail concept and CoreLife Eatery.
The Summit at Fritz Farm is situated on a 54-acre site that once was farmland used for cattle raising, crop farming and tobacco cultivation. The development sits at the intersection of Nicholasville Road and Man o’ War Boulevard, approximately four miles south of the University of Kentucky campus.
— John Nelson