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Chicago & Midwest  + Midwest  + Retail  |  September 26, 2024
Jasmine Kilman
By: Jasmine Kilman

Fully Occupied Retail Strip in Kansas Trades Hands

Marcus & Millichap completed the sale of Spring Creek Center, a 31,557-square-foot retail strip property located in Derby, Kansas. The property sold for $5.3 million. 

“We sourced an all-cash private investor from the East Coast who offered a higher price than local buyers while securing a better deal than he could find in his home market,” said Alex Perez, first vice president of investments. 

Perez and Chris Garavaglia, investment specialists in Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the seller, a private equity group. Colby Haugness, Broker of Record in Kansas, assisted in closing the transaction. 

Built in 2007, Spring Creek Center is located on 3.28 acres at 1821 E. Madison Ave. in the Wichita, Kansas, MSA. The retail strip consists of 12 fully leased suites spread across three buildings, with a mix of medical, dining and service-oriented tenants.

Read More News Stories About: Marcus & Millichap
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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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