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Hanley’s Lefko and Asher Arrange Michaels Sale in KC
Hanley Investment Group Real Estate Advisors arranged the sale of a single-tenant Michaels in Kansas City, MO to a California buyer for $3,945,000. VP Jeff Lefko and EVP Bill Asher represented the seller, N3 Real Estate of Southlake, TX.
The buyer, a private partnership from Southern California and Missouri, was represented by Steve Maynard of the Maynard Group.
The freestanding, 22,810-square-foot Michaels was renovated in 2012, and is a pad to a regional lifestyle center, Zona Rosa, a one-million-square-foot mixed-use urban town center featuring retail, restaurants, entertainment, office and luxury residential units.
“This was a rare opportunity to acquire a single-tenant, freestanding Michaels in a prime Midwest market,” Asher said. Lefko added, “The buyer recognized that this was a premium location in the heart of a shopping district that, under new ownership, is going through a lot of positive changes and improvements.”
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