A New York investment group has bought two Lakeland retail properties as part of a $180 million portfolio purchase that includes centers in three states and totals 1.5 million square feet.
KPR Centers’ local purchases includes Lakeland Park Center, a 232,313-square-foot center at 919 Lakeland Park Center Drive and the Shoppes of Lakeland, a 174,439-square-foot center at 4019 U.S. Highway 98 N.
Both are 100% percent leased with a combined tenant mix that includes Dick’s Sporting Goods, Ashley Furniture, Burlington and TJ Maxx. Both centers also have Target stores. KPR paid about $60 million for the two centers, according to a statement.
Two other Florida properties were also part of the deal, one in Stuart and one in Jensen Beach. In all, KPR bought eight shopping centers in Wisconsin and Missouri along with the ones in Florida. The seller was RPT Properties.