WASHINGTON (dpa-AFX) - Kimco Realty Corp. (KIM) announced that two stores at its shopping centers in California and Ohio, respectively, are among the 50 locations that Best Buy announced it will be closing in 2012. Best Buy remains contractually obligated to pay rent at both locations until the end of their lease terms.
Kimco Realty noted that a 30,000-square-foot Best Buy with a lease-end date of January 2018 will close at The District at Tustin Legacy in Tustin, Calif., a 685,000-square-foot thriving retail center with multiple anchors including Target, Whole Foods, TJ Maxx, AMC Theaters, PetSmart, Michaels and Office Depot in addition to having Lowe's and Costco as shadow anchors. Kimco holds a 50 percent interest in this property.
In addition, Best Buy will close a 55,000-square-foot store with a lease-end date of January 2013 at Kimco's wholly owned Shiloh Springs Plaza in Dayton, Ohio. Additional anchor tenants at the 163,000-square-foot center include Big Lots, Shoe Carnival and Jo-Ann Fabric and Craft Stores.
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