Published July 12, 2012
Kimco Realty Corp. announced that it purchased one Greenville shopping center and three in North Carolina during the second quarter.
Kimco acquired Forest Park, a 52,000-square-foot shopping center at South Pleasantburg Drive and Highway 276 in Greenville, for around $11.8 million.
The center was developed in 2008 and is anchored by The Fresh Market, a gourmet grocer that serves the surrounding neighborhoods and Greenville Country Club.
“Kimco sees an opportunity to reposition the center to better appeal to these upscale patrons, as well as the 15,000 students at the nearby Greenville Technical College, and to grow occupancy from the current 79%,” according to a company statement.
Kimco also recently purchased Overlook Village, a 154,000-square-foot regional power center in Asheville, for around $25.5 million. The fully occupied center is anchored by TJ Maxx/HomeGoods, Ross Dress for Less, hhgregg and Jo-Ann Fabrics.
Davidson Commons, an 89,000-square-foot shopping center in Davidson, a north Charlotte suburb, was acquired for approximately $15.9 million. It is 86% leased and anchored by Harris Teeter.
Mountain Island Marketplace, a 73,000-square-foot fully leased center in Charlotte was bought for around $10.6 million. The shopping center is also anchored by Harris Teeter.
Following these two acquisitions, Kimco now has six properties in the Charlotte MSA.
In the second quarter, the company acquired interests in six U.S. shopping centers and one Canadian center, with an average occupancy level of 97%, for a gross purchase of approximately $261.7 million.
Kimco Realty Corp. is a real estate investment trust headquartered in New Hyde Park, N.Y. It owns and operates a portfolio of neighborhood and community shopping centers.
As of March 31, the company owned interests in 930 shopping centers comprising 136 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America.