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Cincinnati’s Colerain Towne Centre sells for $30 million
Cincinnati, Ohio -- Kimco Realty has sold Colerain Towne Centre, a 400,000-sq.-ft. Cincinnati power center, for $30 million, according to Mid-America Real Estate Corp.’s investment sales group, which represented Kimco in the transaction in cooperation with Anchor Associates. The buyer is a private real estate company.
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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.