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Kite Realty Trust acquires Cool Springs Market in Tennessee

Kite Realty Group Trust announced that it has acquired Cool Springs Market in Franklin, Tennessee. The Company acquired the 224,000 square foot center for a purchase price, exclusive of closing costs, of $37.5M. The center is 95% leased and is anchored by Dick's Sporting Goods, Marshall's, JoAnn Fabrics, Staples, and a non-owned Kroger. It is located near the intersection of I-65 and Cool Springs Boulevard. The property draws from an attractive 5-mile trade area with average household incomes of $124,000 and a population density of 85,200.