Kite Realty Group Trust buys Colonial Promenade Northdale

BUYER: KRG Northdale LLC, Indianapolis
SELLER: OZ/CLP Northdale LLC
PROPERTY: 15786 N. Dale Mabry Highway, Tampa
PRICE: $19.4 million
PREVIOUS PRICE: $17.7 million, January 1987
LAW FIRM ON DEED: Bryan Cave LLP, New York City

PLANS, DESCRIPTION: Kite Realty Group Trust purchased the 158,155-square-foot Colonial Promenade Northdale for $19.4 million.

The price equated to $123 per square foot. That figure is less than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.