Kimco Realty Takes Over Lexington Fritz Farm Center
The developer partners with Hendricks Commercial to manage the sprawling 36-acre mixed-use property in Kentucky.
Updated on Oct. 28, 2026 in Commercial
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Kimco Realty has assumed operations of the Fritz Farm mixed-use center in Lexington. The 330,000-square-foot facility, which is anchored by Whole Foods Market, recently secured $104 million in financing from Blackstone.
Why it matters
This partnership seeks to revitalize the mixed-use hub and capitalize on the site's ongoing potential for expansion. The move integrates new operational management into a location that already serves as a major retail destination for the local community.
The Fritz Farm center spans 36 acres and currently maintains a 92% occupancy rate. Future development potential includes six acres of land earmarked for additional retail and residential projects.
The players
Kimco Realty
A real estate investment trust that owns and operates open-air, grocery-anchored shopping centers and mixed-use assets.
Blackstone
A global alternative investment firm that provides capital for large-scale real estate acquisitions and developments.
Hendricks Commercial
A commercial property management firm partnering with Kimco to oversee the daily operations of the mixed-use center.
Whole Foods Market
A national supermarket chain specializing in organic products that serves as the primary anchor tenant for the center.
The details
Located at the intersection of Nicholasville Road and Man O' War Boulevard, the center has been a fixture in Lexington since its opening in 2017. Kimco Realty is collaborating with Hendricks Commercial to manage the property and its future development phases.
Timeline
The Fritz Farm center originally opened in 2017.
Culture Shift
This move reflects the broader retail industry trend toward prioritizing mixed-use centers anchored by stable grocery tenants. It underscores how major investors are shifting capital into developments that combine residential and commercial demand to maximize site utility.
Residents and shoppers can expect continued operations at the Fritz Farm center, which remains 92% occupied. Future expansion on the remaining six acres may eventually bring additional retail and residential options to the area.
The takeaway
Commercial centers with strong anchor tenants often attract significant long-term financing to support property revitalization. Residents living near major intersections should watch for upcoming site plans as developers move to utilize available acreage for new projects.
Further reading
Learn more about the latest developments in the Lexington Commercial sector.
Source note: This article includes information reported by Chain Store Age.
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