Poplar Hills
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Poplar Hills, KY · Business
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Kimco Realty Completes $295M Acquisition of Louisville Retail Centers
Kimco Realty acquired Paddock Shops and Shelbyville Road Plaza, two grocery-anchored shopping centers in Louisville, for $295 million. The properties total over 741,000 square feet and are anchored by Trader Joe’s and The Fresh Market. Paddock Shops is 94% leased; Shelbyville Road Plaza is 92% leased. “Paddock Shops and Shelbyville Road Plaza are exactly the kind of centers we want to own: grocery-anchored, in the strongest trade areas of a supply-constrained market,” said Conor Flynn, Chief Executive Officer of Kimco Realty. “These centers also offer meaningful embedded upside through the recapture of below-market leases and the opportunity to further enhance the tenant mix with dynamic brands and specialty retailers.”
Louisville, KY · 13h
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