Kite Realty Group (KRG) Acquires S.C.-Based Shops at Plaza Green for $28.8M

Kite Realty Group Trust (NYSE: KRG) has acquired two shopping centers in Greenville, South Carolina. Shops at Plaza Green is a 194,000 square foot center acquired for a purchase price, exclusive of closing costs, of $28.8 million. The center is 95% leased and is anchored by Bed Bath & Beyond, Old Navy, Christmas Tree Shops (a Bed Bath & Beyond concept), Shoe Carnival, and Party City. It is located near the intersection of I-85 and I-385. The property draws from an attractive trade area with average household incomes of $81,800 and a population density of 143,300.

In addition, the Company has recently acquired a Publix-anchored 68,000 square foot shopping center in Greenville, SC for a purchase price, exclusive of closing costs, of $9.1 million. The center is 97% leased and is also located near the intersection of I-85 and I-385. The property is surrounded by a solid trade area with average household incomes of $89,100 and a population density of 114,300.

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