Kite Realty Group Announces the Opening of Nordstrom Rack at Portofino Shopping Center
March 13 2018 - 4:17PM
Kite Realty Group Trust (NYSE:KRG) (the “Company”) announced today
that Nordstrom Rack has opened at Portofino Shopping Center in
Houston, Texas (MSA).
The 27,252-square foot Nordstrom Rack joins
several existing anchors, including T.J. Maxx, DSW, Michaels,
PGA Superstore, Old Navy, and PetSmart. Portofino
Shopping Center is part of the Company’s Redevelopment, Repurpose
and Reposition ("3-R") initiative, which also includes the recent
addition of 13,000 square feet from the construction of two new
standalone buildings.
“Nordstrom Rack will be a great addition to our
Portofino Shopping Center,” said John Kite, CEO of Kite Realty
Group Trust. “It joins a strong lineup of national retailers and
shops, adding to our high-quality merchandising mix and optimized
shopper experience.”
Portofino Shopping Center is located 30 miles
north of downtown Houston in the suburban community of Shenandoah.
The center is near The Woodlands, which is ranked as one of the Top
50 Best Selling Master Planned Communities in the nation.
About Kite Realty Group
Trust
Kite Realty Group Trust is a full-service,
vertically integrated real estate investment trust (REIT) engaged
primarily in the ownership and operation, acquisition, development
and redevelopment of high-quality neighborhood and community
shopping centers in select markets in the United States. As of
December 31, 2017, we owned interests in 117 operating and
redevelopment properties totaling approximately 23.3 million square
feet and two development projects currently under construction.
Our strategy is to maximize the cash flow of our
operating properties, successfully complete the construction and
lease-up of our redevelopment and development portfolio, and
identify additional opportunities to acquire or dispose of
properties to further strengthen the Company. New investments are
focused in the shopping center sector primarily in markets where we
believe we can leverage our existing infrastructure and
relationships to generate attractive risk-adjusted returns or
otherwise in desirable trade areas. Dispositions are generally
designed to increase the quality of our portfolio and to strengthen
the Company’s balance sheet. For more information, please visit the
Company’s website at www.kiterealty.com.
Contact Information:Kite Realty Group TrustDan
Sink, Chief Financial Officer(317) 577-5609dsink@kiterealty.com
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