Fritz Farm Secures $104 Million in New Market Financing
The Lexington mixed-use center adds new management as it prepares to develop six acres of land for future use.
Updated on Oct. 28, 2026 in Commercial
Live Poll
Do you believe large mixed-use retail developments generally benefit your local community?
Kimco Realty has partnered with Hendricks Commercial to manage the Fritz Farm mixed-use center in Lexington. The 330,000-square-foot facility at Nicholasville Road and Man O' War Boulevard recently secured $104 million in financing from Blackstone.
Why it matters
This change in operations and fresh financing signals a stable future for one of the city's primary retail hubs. With 92% occupancy, the move suggests a continued effort to maintain the site's status as a local destination for dining and shopping.
The Fritz Farm center spans 36 acres and has maintained a 92% occupancy rate since it first opened in 2017. Developers have identified six additional acres on-site currently available for future retail and residential projects.
The players
Kimco Realty
A real estate investment trust that specializes in owning and managing open-air, grocery-anchored shopping centers.
Hendricks Commercial
A commercial real estate firm that partners with management companies to operate and revitalize mixed-use developments.
Blackstone
A major global alternative asset manager that provides financing for large-scale real estate and infrastructure projects.
Whole Foods Market
A national upscale supermarket chain known for organic products that serves as the anchor tenant for the Fritz Farm site.
The details
Kimco Realty and Hendricks Commercial are collaborating to oversee operations at the center, which serves as a significant regional retail destination anchored by Whole Foods Market. The $104 million in financing provided by Blackstone will support the facility as it looks toward future expansion. Plans are currently in place to utilize the remaining six acres for new development, though specific project timelines have yet to be determined.
Timeline
2017: Fritz Farm first opened to the public.
The Home Front
This development follows the retail-to-mixed-use conversion trend identified by the International Council of Shopping Centers as owners pivot toward adding residential and lifestyle components to existing footprints. The move reflects a broader industry push to maximize property utility in high-traffic corridors.
Local residents should watch for potential construction or site updates as the six acres of available land are developed for new retail and housing. Keep an eye on local permit filings or community meetings if you live near the intersection of Nicholasville Road and Man O' War Boulevard.
The takeaway
The infusion of $104 million in capital suggests long-term viability for the Fritz Farm area. Residents should monitor public planning notices for the upcoming development of the remaining six acres on the property.
Further reading
For updates on local business developments, visit Commercial.
Source note: This article includes information reported by Chain Store Age.
Live Poll
Do you believe large mixed-use retail developments generally benefit your local community?
