Kite Realty Group Trust Announces Planned Opening of Levity Live Entertainment Venue at Parkside Town Commons
May 14 2018 - 4:17PM
Kite Realty Group Trust (NYSE:KRG) (the “Company”) announced today
that Levity Live is planning to open a live entertainment venue in
late 2018 at its Parkside Town Commons location near Raleigh, North
Carolina.
Parkside Town Commons is a two-phase ground-up
development project serving the Research Triangle Park area and is
located at the intersection of North Carolina Highway 55 and
Interstate 540. The 15,044 square foot Levity Live mixed-use, live
performance entertainment venue and attached restaurant concept
will join several existing anchors, including Target, Harris
Teeter, Frank Theatres CineBowl & Grille, Petco, Hobby Lobby,
Golf Galaxy, and Guitar Center.
“Levity Live’s unique entertainment venue provides
an unparalleled experience to the existing market. Our team’s focus
on attracting traffic-driving, experiential tenants to our
high-quality retail destinations pairs well with Levity Live’s
dedication to entertainment,” said Tom McGowan, Chief Operating
Officer of Kite Realty Group.
Levity Live is a vertically integrated media company that owns
and operates entertainment venues nationwide, including the iconic
Improv Comedy Club brand. With international reach and unparalleled
expertise, Levity Live serves talents, consumers and major brands
as well as identifies, develops, finances and produces original
content targeted for all distribution platforms.
“Raleigh and the surrounding communities are rich with
incredible culture and entertainment from live music to stand-up
comedy and theatrical performances; Levity Live is excited to be a
part of this diverse and growing arts community,” shared Alireza
Ghaemian, CEO of Levity Live. “We look forward to working with Kite
Realty Group alongside Parkside Town Commons local retailers, and
bringing an eclectic line-up of entertainment and dining options
for all who join us for an unforgettable experience.”
About Kite Realty Group Trust:
Kite Realty Group Trust is a full-service, vertically integrated
real estate investment trust (REIT) that provides communities with
convenient and beneficial shopping experiences. We connect
consumers to tenants in desirable markets through our diverse
portfolio of high-quality community, neighborhood, and lifestyle
centers. Using operational, development, and redevelopment
expertise, we continuously optimize our portfolio to maximize value
and return to our shareholders. As of March 31, 2018, the Company
owned interests in 115 operating and redevelopment properties
totaling approximately 22.5 million square feet and 2 development
projects currently under construction totaling 0.7 million square
feet.
For more information, please visit our website at
kiterealty.com.
Safe Harbor
Certain statements in this document that are not historical fact
may constitute forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such statements are based on
assumptions and expectations that may not be realized and are
inherently subject to risks, uncertainties and other factors, many
of which cannot be predicted with accuracy and some of which might
not even be anticipated. Future events and actual results,
performance, transactions or achievements, financial or otherwise,
may differ materially from the results, performance, transactions
or achievements, financial or otherwise, expressed or implied by
the forward-looking statements. Risks, uncertainties and other
factors that might cause such differences, some of which could be
material, include, but are not limited to: national and local
economic, business, real estate and other market conditions,
particularly in light of low growth in the U.S. economy as well as
economic uncertainty caused by fluctuations in the prices of oil
and other energy sources and inflationary trends or outlook;
financing risks, including the availability of, and costs
associated with, sources of liquidity; the Company’s ability to
refinance, or extend the maturity dates of, its indebtedness; the
level and volatility of interest rates; the financial stability of
tenants, including their ability to pay rent and the risk of tenant
bankruptcies; the competitive environment in which the Company
operates; acquisition, disposition, development and joint venture
risks; property ownership and management risks; the Company’s
ability to maintain its status as a real estate investment trust
for federal income tax purposes; potential environmental and other
liabilities; impairment in the value of real estate property the
Company owns; the impact of online retail competition and the
perception that such competition has on the value of shopping
center assets; risks related to the geographical concentration of
the Company’s properties in Florida, Indiana and Texas; insurance
costs and coverage; risks associated with cybersecurity attacks and
the loss of confidential information and other business
interruptions; and other factors affecting the real estate industry
generally. The Company refers you to the documents filed by the
Company from time to time with the SEC, specifically the section
titled “Risk Factors” in the Company’s and the Operating
Partnership’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2017, which discuss these and other factors that could
adversely affect the Company’s results. The Company undertakes no
obligation to publicly update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact Information: Kite Realty Group TrustBryan McCarthySVP,
Marketing & Communications(317)
713-5692bmccarthy@kiterealty.com
Ashley UnderwoodSenior Analyst, Investor Relations &
Strategy(317) 578-5156aunderwood@kiterealty.com
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