Kite buys Vegas shopping center for $32.5 million

December 19, 2014

Kite Realty Group Trust has acquired a Las Vegas shopping center for $32.5 million, the Indianapolis-based real estate investment trust said Friday.

The purchase price for the 81,000-square-foot Rampart Commons includes $12.3 million of assumed debt. Kite did not disclose the seller in a press release.

The center is fully leased and includes tenants Pottery Barn, Williams-Sonoma, Ann Taylor, Talbots and PF Chang’s.

“The Rampart Commons acquisition builds on our presence in the Las Vegas market and further enhances the quality of our portfolio, consistent with our strategy of owning first-class real estate,” Kite CEO John Kite said in a prepared statement.

As of Sept. 30, Kite owned interests in 132 properties totaling 26.7 million square feet in 26 states.



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