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KPR Undertakes Full Redevelopment of Chili Square

By June 27, 2019 No Comments

Chili, NY – Since purchasing Chili Square in 2010, Katz Properties Retail had a big plan for the revitalization of the 114,000 square foot Kmart building; transition it into a neighborhood shopping center that will better meet the everyday needs of the community.

Stan Glantz, VP Development and Construction, who has been leading the charge said, “This redevelopment was made possible by an engaged and responsive set of decision makers in the Town of Chili. They obviously wanted to see something new and vibrant happen at this key intersection in town.”

Leasing efforts, guided by Thomas Smith, National Director of Leasing for KPR, have been robust. “We have been diligently working to bring tenants to the center that will fill voids in the marketplace, thereby providing value and convenience to the community,” noted Thomas. A partnership with Scott Burdett of Flaum Management Company has been paramount in coordinating with the various tenant brokers to bring each deal to the finish line. Thomas added, “Our team approach continues to identify use categories and successful operators who will contribute and thrive within this dynamic redevelopment.”

To date, a host of national retailers have signed on to fill nearly 80,000 square feet of the former Kmart building. Dollar Tree and Aldi are already open for business, with Pet Supplies Plus planning to open in mid-July. Big Lots will complete construction later in the year in anticipation of an early Fall opening.

This Dollar Tree location features the recently-introduced Snack Zone, an expanded offering of beverages, candy, and snacks, in addition to nostalgic favorites. “Dollar Tree continues to grow and we are proud to be part of the Rochester community,” stated Kayleigh M. Painter, Dollar Tree’s Investor and Media Relations Manager.

The KPR leasing team of Thomas Smith, Michael Zieja, and Garrett Secrest are actively negotiating with multiple prospective new tenants as they work to fill the remaining vacancy. Leasing inquiries can be directed to leasing@kprcenters.com or 212-710-9330.

Visit KPR’s website at www.kprcenters.com for more information about Chili Square or any property currently in the KPR portfolio.

 

About KPR:
With over 15 years of real estate investment experience, KPR has a defined strategy of acquiring retail properties, with a primary focus on grocery-anchored shopping centers and power villages, within well-located US submarkets. We are a vertically integrated investor with in-house leasing, management, and development operations tailored to maximize value through proactive leasing, repositioning, and redevelopment of our properties.

Established in Boston in 2003, KPR has since expanded its footprint in 14 states within the greater New England, New York State, Mid-Atlantic, and Southeast submarkets. Our successful track record of strategic acquisitions and dispositions has led us to transactions and trusted partnerships with public REITs, institutions, private equity groups, and family offices. For more information, please visit us at www.kprcenters.com.

 

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