{"id":1004116847,"date":"2015-04-03T07:31:13","date_gmt":"2015-04-03T15:31:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004116847"},"modified":"2022-12-08T17:58:53","modified_gmt":"2022-12-09T01:58:53","slug":"kite-realty-grabs-upscale-retail-center-in-suburban-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\/","title":{"rendered":"Kite Realty Flies to Upscale Dallas Retail"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

In an off-market transaction, Kite Realty Group has added a 201,000-square-foot retail center in metropolitan Dallas to its portfolio. The retail REIT purchased Colleyville Downs, a grocery-anchored Class A property in the affluent community of Colleyville, from Centennial Real Estate Co.<\/p>\n

Colleyville Downs is 92 percent leased and features a newly built Whole Foods Market as one of its three anchor tenants. Additionally, it offers upside potential through lease-up and below-market rent opportunities, according to its new owners.<\/p>\n

Colleyville Downs is one of three assets Kite Realty has purchased since its $2.1 billion merger with Inland Diversified Real Estate Trust Inc. in July 2014. The company is not precisely in binge-shopping mode; its 2015 guidance assumes a conservative $80 million of identified acquisition opportunities.<\/p>\n

\u201cThe acquisition market remains extremely competitive and we intend to further enhance the quality of our portfolio even if that means acquiring less today for a longer term benefit going forward,\u201d John Kite, the company\u2019s chairman & CEO, said during its earnings call in February. \u201cWe’re putting out the deals that we’re actively engaged in tying up, and then we have got a whole year ahead of us to exceed that. And we obviously have a lot of capital.\u201d\u009d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The purchase of Colleyville Downs is the third for Kite since its $2.1 billion merger last summer with Inland Diversified Real Estate Trust Inc.<\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21749],"tags":[39429],"class_list":["post-1004116847","post","type-post","status-publish","format-standard","hentry","category-dallas","category-investment","category-latest","category-retail","tag-dallas"],"acf":[],"yoast_head":"\nKite Realty Flies to Upscale Dallas Retail - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kite Realty Flies to Upscale Dallas Retail\" \/>\n<meta property=\"og:description\" content=\"The purchase of Colleyville Downs is the third for Kite since its $2.1 billion merger last summer with Inland Diversified Real Estate Trust Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-03T15:31:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:58:53+00:00\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Kite Realty Flies to Upscale Dallas Retail\",\"datePublished\":\"2015-04-03T15:31:13+00:00\",\"dateModified\":\"2022-12-09T01:58:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\\\/\"},\"wordCount\":214,\"commentCount\":0,\"keywords\":[\"Dallas\"],\"articleSection\":[\"Dallas\",\"Investment\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/kite-realty-grabs-upscale-retail-center-in-suburban-dallas\\\/\",\"name\":\"Kite Realty Flies to Upscale Dallas Retail - 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