Kite Realty bucking retail trend

Bucking the retail trend of one-off, pad-centric development along the Gulf Coast, Kite Realty Group Trust has begun construction on a new 123,000-square-foot center in Naples.

Tamiami Crossing, one of eight new projects the Indianapolis-based REIT has in its development pipeline nationwide, is slated to contain tenants ranging from Marshall's to Ulta and Petsmart to SteinMart, according to Kite's website.

The new center is expected to be completed at Tamiami Trail and Collier Boulevard later this year. The project is located near a Publix supermarket, a Wal-Mart supercenter and retailers such as Lowe's, The Fresh Market and restaurants such as Outback Steakhouse and Pollo Tropicalle.

Kite, which owns 121 retail centers nationwide totaling more than 24 million square feet, is no stranger to the Naples market or the Gulf Coast. In Naples, the company owns Kings Lake Square; Pine Ridge Crossing; the Shops at Eagle Creek; Riverchase Plaza; and Tarpon Bay Plaza.

Throughout the Gulf Coast it controls the Northdale Promenade in Tampa; Colonial Square in Fort Myers; Estero Town Commons in Estero; Burnt Store Promenade in Punta Gorda; and the Shops at Village Walk, also in Fort Myers.