Smith Anderson Assists Kimco Realty Corporation with Two Acquisitions in North Carolina, Including One of the Largest Retail Centers in the Triangle
Raleigh, N.C. – Smith Anderson recently assisted New York-based Kimco Realty Corporation (NYSE: KIM), in its purchase of the following properties:
- Acquisition of Crossroads Plaza in Cary, N.C., one of the Southeast region’s largest outdoor shopping centers, with 670,000-square-feet and more than 70 tenants. The $91 million transaction closed in the first quarter of 2014. With the acquisition of Crossroads Plaza, Kimco has nine shopping centers, comprising 2 million square feet, in the Raleigh metropolitan statistical area (MSA).
- Purchase of a controlling interest of Quail Corners in Charlotte, N.C., a 110,000-square-foot shopping center anchored by Harris Teeter. The $31.8 million transaction, including $17.4 million of mortgage debt, closed in the first quarter of 2014.
Kimco is North America’s largest publicly traded owner and operator of neighborhood and community shopping centers. For more information on these transactions, please CLICK HERE to read Kimco’s press release.
The Firm’s Commercial Real Estate Practice and its lawyers have been consistently recognized in Chambers USA: America's Leading Business Lawyers, The Best Lawyers in America®, Super Lawyers® and the joint “Best Law Firms” ranking by U.S. News – Best Lawyers®. While interviewing clients and peers for its 2014 edition, Chambers USA reported one source as saying, “They are excellent and provide marvelous client services. We have a very strong relationship with them based on their skills and professionalism." For more information on Smith Anderson’s Commercial Real Estate Practice, visit www.SmithLaw.com/CommercialRealEstate.
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest publicly traded portfolio of neighborhood and community shopping centers. As of December 31, 2013, the company owned interests in 852 shopping centers comprising 125 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com.
About Smith Anderson
Since our founding in 1912, Smith Anderson has grown to more than 120 attorneys and is the largest law firm headquartered in North Carolina’s Research Triangle area. We serve clients ranging in size from large public companies to emerging growth businesses, providing a full range of legal services to assist our clients in accomplishing their goals. The knowledge and experience of our attorneys makes us well-positioned to handle the litigation and business matters that our clients face. For more information, please visit www.SmithLaw.com.