Conor Flynn Of Kimco Realty Acquires Paddock Shops And Shelbyville Road Plaza For $295M
4038 Summit Plaza Drive & 4600 Shelbyville Road
$295,000,000
$199/SF
Building Size
741,000 SF
Asset Type
Retail
Closing
Nov 3, 2026
About this deal
AI
The properties involved in this transaction are two grocery-anchored shopping centers located at 4038 Summit Plaza Drive and 4600 Shelbyville Road in the Louisville & St. Matthews market of Kentucky. The total sale price for the asset was $295,000,000, with a total square footage of 741,000 and a price per square foot of $398.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $295,000,000
- Buyer: Conor Flynn
- Buyer's Company: Kimco Realty
- Location: 4038 Summit Plaza Drive & 4600 Shelbyville Road, Louisville & St. Matthews, KY
- Total Square Footage: 741,000
- Price per Square Foot: $398
Kimco Realty acquired the shopping centers known as Paddock Shops and Shelbyville Road Plaza during this transaction, marking a significant addition to their retail portfolio in the region.
On the Map
$295,000,000
$199/SF
Retail
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Players
Louisville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93