Kite Realty Group Trust Acquires Prestonwood Place Shopping Center In Addison

Kite Realty Group Trust has acquired the 160,000-square-foot Prestonwood Place shopping center located at 5290 Belt Line Road in Addison, Dallas. The retail complex, with over 94% occupancy and office spaces, was previously owned by a unit of Northwood Investors. The property is situated on 16 acres of land in the bustling market of Addison, Dallas.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: Not specified
• Square Footage: 160,000
• Address: 5290 Belt Line Road
• Market: Addison, Dallas

The acquisition was brokered by JLL, with Barry Brown, Chris Gerard, Ryan Shore, Erin Lazarus, Matthew Barge, and Megan Babovec representing Kite Realty Group Trust in the deal. The seller, Northwood Investors, was represented by John Kukral. The transaction marks an important milestone for Kite Realty Group Trust in expanding its retail portfolio in the Addison area.