KPR Centers, a New York City–based retail real estate development and investment group active in 17 states with approximately 10 million square feet of owned and managed properties, has expanded its footprint in the Midwest and bolstered its Florida-area holdings with the acquisition of an eight-property shopping center portfolio for $180 million.
The portfolio includes retail centers in Milwaukee; St. Louis; Jensen Beach, Fla.; and Lakeland, Fla. Cumulatively 96 percent leased at the time of the acquisition, the more than 1.5 million-square-foot portfolio is a combination of grocery-anchored and power centers, featuring anchors Dick’s Sporting Goods, Marshalls, Michael’s, Ross Dress for Less, The Fresh Market and others.
“This opportunistic acquisition furthers our mission of targeting core-plus and value-add shopping center assets with strong upside potential and creditworthy tenants, in sections of the country that continue to exhibit population expansion an
