NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--Kimco Realty Corp. (NYSE:KIM) announced today that Sprouts Farmers Market will open a 32,000-square-foot store at Lincoln Square, Kimco’s Signature Series mixed-use development in Philadelphia’s Center City District. Additionally, pre-leasing is now underway for the project’s 322 residential units, whose occupants will also enjoy access to onsite retailers including Target, PetSmart, Starbucks and Sprint, along with 50,000 square feet of indoor and outdoor amenity space and panoramic city views. Residential move-ins will begin this summer, with Sprouts also set to open in the third quarter of this year.
“The announcement of Sprouts culminates our vision for Lincoln Square as a modern urban living destination,” said Tom Simmons, President, Mid-Atlantic Region at Kimco Realty. “In addition to the state-of-the-art amenities offered, residents will be just steps away from a variety of convenient, affordable and healthy retail options that will complement their active city lifestyle.”
Sprouts, which specializes in fresh, natural and organic products at affordable prices, is one of the fastest growing retailers in the U.S., opening approximately 30 stores in 2018. Lincoln Square will be the brand’s first Philadelphia location, and the ninth in Kimco’s portfolio. The store layout will incorporate the adaptive reuse of Lincoln Square’s historic train station, which was a stop along the funeral tour that followed Abraham Lincoln’s assassination in 1865. The historic structure’s Late Gothic Revival elements have been preserved and restored, including the pitched roof and other architectural details.
In addition to the onsite retail, Lincoln Square’s location at the corner of Broad Street and Washington Avenue, just two blocks from a SEPTA subway station, offers walkability to premier Philadelphia shopping and dining destinations as well as entertainment venues along the Avenue of the Arts. Onsite amenities include a parking garage, fitness club, outdoor running track, bike storage, dog run, pet grooming station, golf simulator, and a green roof with outdoor kitchens, living spaces, lawns and fire pits. Residential units at Lincoln Square range from studio to three-bedroom layouts, and will feature top-of-the-line appliances and finishes.
“Our Lincoln Square project exemplifies Kimco’s mission – to create destinations for everyday living that inspire a sense of community and deliver value to our many stakeholders,” stated Conor Flynn, Chief Executive Officer of Kimco Realty. “I’m particularly proud to see our first mixed-use development come to life. The restoration of the historic train station creates a signature design element for the project while also preserving an important piece of history, which we’re confident will be a major draw for this transit-oriented, urban infill development in a top 10 MSA.”
Visit www.lincolnsquare.com for more information, or call 215-621-8946 for leasing inquiries.
About Kimco
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 60 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc. specializes in fresh, natural and organic products at prices that appeal to everyday grocery shoppers. Based on the belief that healthy food should be affordable, Sprouts’ welcoming environment and knowledgeable team members continue to drive its growth. Sprouts offers a complete shopping experience that includes an array of fresh produce in the heart of the store, a deli with prepared entrees and side dishes, The Butcher Shop, The Fish Market, an expansive vitamins and supplements department and more. Headquartered in Phoenix, Ariz., Sprouts employs more than 27,000 team members and operates more than 280 stores in 15 states from coast to coast. Visit sprouts.com for more information.
