OLATHE, KS-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the $29.39 million sale of Olatha Pointe, (top right photo) a 289,455-square foot shopping center in Olathe, Kansas. John Riser, (middle right) a vice president investments and senior director of Marcus & Millichap’s National Retail Group in Indianapolis, represented the seller, Maefield Development Corp. of Indianapolis. He also represented the buyer, Phoenix-based Arciterra.
“The new owner has acquired a Class A shopping center in one of Kansas City’s most upscale and rapidly growing suburbs,” says Riser.
Olathe has attracted a great deal of media attention recently because of its rapidly growing population, quality of life and s
trengthening economic base. Money magazine recently named Olathe the 13th-best city in which to live in the United States. Located at the southeast corner of 119th Street and Blackbob Road, the shopping center consists of two multi-tenant buildings situated on approximately 25 acres.
The egg-shaped layout of the shopping center maximizes tenant visibility from the signalized intersection and generates excellent foot traf
fic to the center.
fic to the center. Built in 2006, Olathe Pointe offers a timeless architectural appeal with a rich blend of textures, colors and shapes to capture a unique and inviting shopping experience. “The attention to detail demonstrated in the architecture is on par with premier lifestyle centers throughout the country,” says Riser.
Some of the tenants include Marshall’s, Home Goods, Michaels, Off Broadway Shoes, Ulta, Party America, Dressbarn, HuHot Asian Grill, Five Guys Burgers & Fries, Cold Stone Creamery, T-Mobile, Sports Clips, Massage Envy, and Cartridge World.
“The property attracted offers from investors across the country because of its strong tenant mix, excellent location, efficient layout and timeless architectural appeal,” adds Riser. “Olathe Pointe should continue to be one of the premier retail destinations in this market well into the future.”
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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