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R.H. Johnson Adds Open-Air Power Center in Iowa
Kansas City-based R.H. Johnson Company has acquired Lakeport Commons, a 282,708-square-foot, open-air regional power center in Sioux City, IA, from InvenTrust Properties Corp. Terms of the acquisition were not disclosed.
HFF’s Chicago-based Amy Sands and Clinton Mitchell and Denver-based Jules Sherwood marketed the property for InvenTrust. Completed in 2005, it’s currently 92% leased to a tenant roster that includes Best Buy, Staples, Michaels, PetSmart and Old Navy. It’s adjacent to the only enclosed regional mall within 85 miles, the Southern Hills Mall, and is also shadow-anchored by Kohl’s.
Lakeport Commons serves an expansive trade area holding 127,297 people within 15 miles, according to HFF. More than 55,950 residents earning an average annual household income of $64,642 live within a five-mile radius of the center.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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