News Summary
The Summit at Fritz Farm in Lexington has been sold for $137 million, surpassing previous commercial property records in the area. The property, covering nearly 33 acres, features Whole Foods and various restaurants. Developed from a former tobacco farm, it has transformed into a bustling shopping and dining destination since its opening in 2017. This acquisition by Hendricks Commercial Properties represents a significant investment in Lexington’s economic growth and community connectivity.
Lexington — The Summit at Fritz Farm has officially been sold for $137 million as announced by Hendricks Commercial Properties (HCP) based in Wisconsin on May 15, 2025. This purchase surpasses the previous record for a Lexington commercial property, the Hamburg Pavilion, which sold for $135 million in October 2024.
The sale was finalized with Swift Creek Real Estate Partners and Centennial Real Estate Management LLC, who owned The Summit. The transaction includes the portion of the property that features Whole Foods, an array of restaurants, and various retail shops, all situated on nearly 33 acres.
The Summit, which opened its doors in 2017, was developed on a former tobacco farm in Fayette County. Notably, the property’s assessed value was estimated to be at least $90.5 million, representing a considerable investment in the fast-developing area. However, it is important to note that the sale did not include two empty parcels located along Man o’ War and Tiverton Way, nor did it encompass the hotels and the apartment building at The Summit, which are owned separately.
According to David O’Neill, Fayette County Property Valuation Administrator, the separate ownership of the hotels and apartments is confirmed, ensuring that these components of The Summit are not part of this recent transaction.
The Summit’s Features
The Summit at Fritz Farm stands out as a vibrant shopping and dining destination. It boasts over 60 street-level shops, showcasing renowned retail stores such as Pottery Barn, Williams-Sonoma, Apple, Ariat, Free People, and Warby Parker. Additionally, it offers a diverse array of dining options, including Ouita Michel’s Honeywood, J. Alexander, Shake Shack, Grimaldi’s Brick Oven Pizzeria, Condado Tacos, Blue Sushi Sake Grill, and 33 Staves at the Origin Hotel.
Future Prospects
In light of this acquisition, HCP’s CEO expressed optimism about enhancing the overall experience for both tenants and guests at The Summit. With various amenities and services available, the property is expected to play a pivotal role in the local community, contributing to its connectivity and economic growth.
Background Context
The Summit at Fritz Farm has quickly gained popularity since its inception, attracting both shoppers and diners from across the Lexington area. This cluster of retail and dining establishments has made it a focal point of social and consumer activity. Its location on a formerly underused plot of land has transformed the area into a hub of economic activity and socialization.
With this record-setting sale, Lexington continues to demonstrate its potential for high-value commercial investments. The ongoing development and revitalization of the area signal a reliable trend of growth which may attract future investments similar to that of The Summit.
As Lexington real estate continues to evolve, the implications of HCP’s acquisition of The Summit are significant. It remains to be seen how this change in ownership will influence development strategies and tenant experiences moving forward.
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Additional Resources
- Kentucky.com: The Summit at Fritz Farm Sold
- Wikipedia: Lexington, Kentucky
- Fox56 News: Lexington Shopping Center Sold
- Google Search: The Summit at Fritz Farm Lexington Kentucky
- Lex18 News: Portion of Hamburg Pavilion Sold
- Encyclopedia Britannica: Kentucky
- Columbia Business Report: Lexington Marketplace Shopping Center
- Google News: Lexington Real Estate
