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Kite Realty begins renovation of Naples, Fla., center
Naples, Fla. -- Kite Realty Group Trust has begun work on a $10 million renovation of the 85,497-sq.-ft. Kings Lake Square in Naples, Fla.
The renovation will demolish the center’s Publix anchor and construct a new 45,000-sq.-ft. new Publix. Additional work includes renovated shop facades new sidewalks, a new parking lot, site lighting and landscaping.
Publix will close this month and reopen the new store next spring. All other tenants will remain open during the renovation. -
Arden Group to consider putting itself up for sale
Los Angeles -- Arden Group, owner of the 16-unit Gelson’s Market grocery chain, said that the company is exploring its strategic options and has hired financial adviser Moelis & Co. to help with the review process.
The options may include a possible sale of the company.
No timeline for any potential transactions has been outlined.