Florida’s Premier Grocery-Anchored Lifestyle Center and Retail Landmark

One of Florida’s Top Retail Destinations with Nearly 14 Million Annual Visits

JERICHO, New York, Oct. 01, 2024 (GLOBE NEWSWIRE) — Kimco Realty® (NYSE: KIM) a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, is pleased to announce the acquisition of Waterford Lakes Town Center, a 976,000-square-foot signature asset spanning 79 acres in Orlando, Florida for $322 million, including the assumption of a $164 million mortgage. The property, which is approximately 99% occupied, features a high-quality tenant mix that combines lifestyle and entertainment uses with essential goods and services.

Waterford Lakes Town Center is set to become a hub for both locals and tourists in Orlando, offering a unique shopping and entertainment experience. With nearly 1 million square feet of space, the center provides ample room for a diverse range of retailers, restaurants, and entertainment options. This acquisition solidifies Kimco Realty’s presence in the Florida market and highlights their commitment to providing top-tier retail destinations.

By acquiring this premier property, Kimco Realty is positioning itself as a leader in the industry, offering a curated mix of tenants that cater to the needs and desires of today’s consumers. With a focus on high-quality, open-air shopping centers, Kimco Realty is dedicated to creating vibrant spaces that bring communities together.

Waterford Lakes Town Center’s strategic location in Orlando makes it a prime destination for shoppers looking for a one-stop-shop experience. With its unique blend of lifestyle and entertainment options, the center is sure to attract a wide range of visitors, further solidifying its status as one of Florida’s top retail destinations.

Effects on Individuals

For individuals in the Orlando area, the acquisition of Waterford Lakes Town Center by Kimco Realty may mean an increase in retail options and entertainment choices. The center’s diverse tenant mix is likely to appeal to a wide range of tastes, offering something for everyone to enjoy. Additionally, the revitalization of the property could lead to a boost in local economy and job opportunities, benefiting both residents and visitors alike.

Effects on the World

On a larger scale, the acquisition of Waterford Lakes Town Center reflects the ongoing evolution of the retail industry. As more companies like Kimco Realty invest in high-quality, mixed-use properties, the way we shop and interact with retail spaces is changing. This shift towards creating dynamic, community-focused environments has the potential to shape the future of retail on a global scale, influencing how we experience shopping and entertainment worldwide.

Conclusion

In conclusion, the acquisition of Waterford Lakes Town Center by Kimco Realty marks a significant milestone in the evolution of retail spaces in Florida. By providing a premier shopping and entertainment destination in Orlando, Kimco Realty is setting a new standard for high-quality, community-driven retail experiences. As this trend continues to grow, we can expect to see more innovative and engaging retail destinations emerge, shaping the future of retail both locally and globally.