Kite Realty Group (KRG) Closes New Hill Place Sale, Enters Development Agreement w/ Target (TGT)
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Kite Realty Group Trust (NYSE: KRG) reports that it has closed on the sale of 13.9 acres and entered into a site development agreement with Target Corporation (NYSE: TGT) at the Company’s New Hill Place development in Holly Springs, North Carolina (Raleigh MSA). Target will anchor the first phase of the project in a 135,000 square foot building.
Construction at the development will commence in the spring of 2012. In addition to Target, the center will be anchored by Dick’s Sporting Goods, Marshall’s, Michael’s, and Petco. Upon completion of the development, the center will total approximately 375,000 square feet.
Construction at the development will commence in the spring of 2012. In addition to Target, the center will be anchored by Dick’s Sporting Goods, Marshall’s, Michael’s, and Petco. Upon completion of the development, the center will total approximately 375,000 square feet.
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