Kimco Realty Corp. completed the sale of approximately nine acres of land at its Dania Pointe mixed-use project in Dania Beach, Fla., to Spirit Airlines Inc. for its planned $250 million global headquarters.
Spirit also completed a ground lease for an additional land parcel to construct a corporate training residence. The campus will accommodate more than 1,000 employees in an area of up to 500,000 square feet.
Construction is set to begin in 2021, with transfer of employees expected in mid-2022.
Phases II and III of the project will include the Spirit Airlines headquarters, an additional 417,000 square feet of mixed-use retail, dining and entertainment, ground leases for two Marriott hotels, and 850 residential apartment units, of which the first 264 are now under construction.
Kimco also recently signed leases with lifestyle brands Urban Outfitters Inc. and Anthropologie Inc., opening at Dania Pointe in 2020 as part of the retail component of Phases II and III.