KRG Acquires Two Shopping Centers for $136 Million, Sells Six-Property Retail Portfolio for $255 Million

Sandy Springs, Ga. and Naples, Fla. — Indianapolis-based Kite Realty Group (KRG) has acquired two shopping centers in Florida and Georgia for $136 million. The first property is Chastain Market, a 121,000-square-foot, Trader Joe’s-anchored neighborhood center in Sandy Springs, that sold for $71 million. The second property is The Pointe at Founders Square, an 86,592-square-foot retail center located within the Founders Square mixed-use development in Naples. The unanchored center sold for $65 million.

In addition to the acquisitions, KRG has also sold a six-property retail portfolio across four states for $255 million. Totaling 1.1 million square feet, the portfolio includes:

• Commons at Temecula in Riverside, California (292,078 square feet)
• Gateway Station in College Station, Texas (125,406 square feet)
• Grapevine Crossing in Dallas/Fort Worth, Texas (125,488 square feet)
• La Plaza Del Norte in San Antonio, Texas (320,102 square feet)
• Perimeter Woods in Charlotte, North Carolina (127,067 square feet)
• Winchester Commons in Memphis, Tennessee (93,077 square feet)