Kite Realty Buys Castleton Crossing for $39M

Kite Realty Buys Castleton Crossing for $39M

INDIANAPOLIS—Kite Realty Group Trust has acquired Castleton Crossing, a 280,000-sq.-ft. retail property, for $39 million.

The center is 100 percent leased and is anchored by TJ Maxx, HomeGoods, Burlington Coat Factory and Shoe Carnival. The property is near the intersection of Interstate 465 and Allisonville Road.

“Castleton Crossing is an excellent addition to our retail portfolio reflecting our continued success in acquiring high quality shopping centers in off-market transactions. This property is located at one of the premier intersections in Indianapolis,” said John Kite, the company’s chairman and CEO, in a statement.

His firm currently owns interests in a portfolio of 60 operating and redevelopment properties totaling approximately 9.3 million sq. ft. and three properties currently under development totaling 500,000 sq ft.

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