Newkirk Realty Trust Inc. recently sold 50 of its retail properties to Kimco Realty Corp. and Schottenstein Stores Corp. for a gross purchase price of $160 million.

The sold properties, which were leased to Albertson’s Inc., contained an aggregate of 2.3 million square feet and had current lease terms expiring over the next 4.5 years.

Newkirk Realty Trust Inc. is a real estate investment trust currently owning approximately 14.5 million square feet across 34 states.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top