Kimco Realty Announces the Grand Opening of Sprouts at its Lincoln Square Signature Series Development
September 19 2018 - 8:00AM
Business Wire
Chipotle and Insomnia Cookies also join the
Philadelphia mixed-use project; Retail now 97% leased
Resident move-ins are underway, with leasing
ahead of schedule
Kimco Realty Corp. (NYSE:KIM) today announced the opening of
Sprouts Farmers Market at Lincoln Square, the company’s Signature
Series mixed-use development in Center City Philadelphia. PetSmart
and Sprint have also opened for business, and will soon be joined
by Target, Starbucks, and Wine & Spirits Shoppe, along with
newly announced dining additions Chipotle and Insomnia Cookies,
bringing the retail portion of the project to 97% leased. Retailer
openings will continue throughout the remainder of this year and
into early 2019. Resident move-ins began this summer, and
apartments are leasing ahead of schedule.
“I’m incredibly proud to see our plans for Lincoln Square come
to life, and that the community is just as excited for this
transformation to become a community focal point,” said Conor
Flynn, Kimco’s Chief Executive Officer. “Lincoln Square is a great
example of how retail is evolving, and how Kimco can enhance its
shopping centers by mixing uses to unlock the embedded value of the
underlying real estate. Our Signature Series projects are now
beginning to bear fruit and will be instrumental to our growth in
2019 and beyond.”
Sprouts at Lincoln Square marks the first entry into
Pennsylvania for the popular grocer, which specializes in fresh,
natural and organic products at affordable prices. The
approximately 32,000-square-foot store prominently features the
adaptive reuse of the site’s historic train shed, adding a uniquely
Philadelphian flavor and creating a signature design element for
the project. The train shed, built in the Late Gothic Revival
style, was a stop along the 1865 funeral tour following Abraham
Lincoln’s assassination.
The nearly $150 million Lincoln Square project seamlessly blends
apartment-style living with the conveniences of city dwelling, all
in a convenient location at the corner of Broad and Washington,
just two blocks from a SEPTA subway station. With 322 residential
units atop 100,000 square feet of retail, residents will enjoy
immediate access to onsite shopping, dining and services, plus
50,000 square feet of state-of-the-art amenities including a
fitness club, outdoor running track, dog run and green roof with
outdoor kitchens and living space. Community members can also enjoy
the new Lincoln Walk, an inviting outdoor seating and gathering
space that will host special events and programming.
“Lincoln Square’s unique live/shop environment is enhanced by
its best-in-class multifamily amenity package, which includes the
largest outdoor open amenity space in the City,” said Tom Simmons,
President of Kimco’s Mid-Atlantic Region. “With Lincoln Square,
we’re not only adding a new and vibrant housing alternative in this
high-demand market, along with permanent jobs and tax revenue, but
we’re also adding much-needed retail and grocery options in this
previously underserved market.”
About Kimco
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust
(REIT) headquartered in New Hyde Park, N.Y., that is one of North
America’s largest publicly traded owners and operators of open-air
shopping centers. As of June 30, 2018, the company owned interests
in 460 U.S. shopping centers comprising 79 million square feet of
leasable space primarily concentrated in the top major metropolitan
markets. Publicly traded on the NYSE since 1991, and included in
the S&P 500 Index, the company has specialized in shopping
center acquisitions, development and management for 60 years. For
further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or
follow Kimco on Twitter at www.twitter.com/kimcorealty.
The company announces material information to its investors
using the company’s investor relations website
(investors.kimcorealty.com), SEC filings, press releases, public
conference calls, and webcasts. The company also uses social media
to communicate with its investors and the public, and the
information the company posts on social media may be deemed
material information. Therefore, the company encourages investors,
the media, and others interested in the company to review the
information that it posts on the company’s blog
(blog.kimcorealty.com) and social media channels, including
Facebook (www.facebook.com/kimcorealty), Twitter
(www.twitter.com/kimcorealty), YouTube
(www.youtube.com/kimcorealty) and LinkedIn
(www.linkedin.com/company/kimco-realty-corporation). The list of
social media channels that the company uses may be updated on its
investor relations website from time to time.
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version on businesswire.com: https://www.businesswire.com/news/home/20180919005086/en/
Kimco Realty Corp.Jennifer Maisch, 516-869-7224Director,
Corporate Communicationsjmaisch@kimcorealty.com
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