Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Two-Tenant Retail Trades in KC Metro
Marcus & Milichap arranged the sale of a 56,837-square-foot, two-tenant retail at 6821 W. 135th St. in Overland Park, KS, near Kansas City. Located within the 1.1-million-square-foot Corbin Park mixed-use development, the property changed ownership for $12,150,000.
Fist VP Ryan Bowlby and SVP Drew Isaac, in coordination with Kansas broker of record Colby Haugness, marketed the property on behalf of the seller, a private Overland Park-based developer. The buyer, an out-of-state family trust in a 1031 exchange, was also sourced by Bowlby and Isaac.
The property is a two-tenant, class A trophy asset featuring Sprouts Farmers Market and Crowley Furniture. Average annual household income in the surrounding submarket is $155,000.
“We received multiple offers from investors across the country and the buyer was selected in part because of their ability to close quickly,” said Bowlby. “The property closed with a seven-day due diligence period and a six-day closing period.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
