INDIANAPOLIS--(BUSINESS WIRE)-- Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that it has signed a lease with Hobby Lobby and opened a new Stein Mart at its Parkside Town Commons location near Raleigh, North Carolina.

Parkside Town Commons is a two-phase ground-up development project serving the Research Triangle Park area and located at the intersection of North Carolina Highway 55 and Interstate 540. The 50,000-square foot Hobby Lobby and 32,000-square foot Stein Mart join several existing anchors, including Target, Harris Teeter, Frank Theatres CineBowl & Grille, Petco, Golf Galaxy, and Guitar Center. The signing of Hobby Lobby puts the second phase of this project at 90% leased.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. As of December 31, 2016, the Company owned interests in a portfolio of 121 operating, development and redevelopment properties totaling approximately 24 million total square feet across 20 states. For more information, please visit the Company’s website at www.kiterealty.com.

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Kite Realty Group Trust
Dan Sink, EVP & CFO, 317-577-5609
dsink@kiterealty.com

Source: Kite Realty Group Trust