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Kimco Realty Corp Completes Purchase of Wilton River Park in Fairfield County


Friday, 8 Mar 2013 11:58am EST 

Kimco Realty Corp announced that it has acquired the remaining phase of the 283,000-square-foot Wilton River Park in Wilton, Conn. Including the Company`s initial acquisition, the combined investment of this complex totals $82 million, including $57 million of mortgage debt. Wilton River Park is a valuable addition to the Company's shopping center portfolio because of its mix of retailers, including the dominant supermarket in the community, and attractive location within the upscale market of Lower Fairfield County. In August 2012, Kimco completed the first phase of its acquisition of Wilton River Park with the purchase of Wilton Campus Shops, a 97% occupied retail center anchored by the national grocer Stop & Shop. To secure full ownership of the complex, Kimco recently finalized the purchase of Wilton Executive Campus and Shoppes, a 187,000-square-foot mixed-use center directly adjacent to Wilton Campus Shops that shares all road access and parking, for $42 million, including the assumption of $36 million of mortgage debt. Kimco acquired both parcels from the original developers of Wilton River Park. Wilton River Park is located along River Road in the heart of Wilton, Conn., in Lower Fairfield County - a region known as Connecticut`s Gold Coast for its affluent population and proximity to both New York City and the Long Island Sound. 

Company Quote

22.4
0.03 +0.13%
11:16am EDT