 |
| Truman's Marketplace Power Center, 12410 South U.S. Highway 71 (Interstate 49), Grandview, MO |
 |
| Jeff Lefco |
CORONA DEL MAR, CA –
Hanley Investment Group Real Estate Advisors, a nationally-recognized real
estate brokerage and advisory firm specializing in retail property sales,
announced today that the firm completed the sale of two new construction
multi-tenant pad buildings in separate transactions in the Kansas City metro
area.
The total purchase price for both properties was $5,430,000.
Hanley Investment Group
Associate Jeff Lefko, along with
Executive Vice President Bill Asher,
negotiated the sale of a new construction 8,000-square-foot multi-tenant pad
building at Truman's Marketplace, a regional power center anchored by Price
Chopper, TJ Maxx, Ross Dress for Less, and Burlington Coat Factory in
Grandview, Missouri.
Built in 2016 on 0.93
acres, the building is located at 12410 South US Highway 71 (Interstate 49).
The three tenants occupying the 100-percent-occupied building are T-Mobile,
McAlister's Deli and KC Speed Nails.
 |
| Bill Asher |
The buyer, a private investor from Thousand
Oaks, California, was represented by John
Stafford of Colliers International. The seller, a private developer also
from Kansas City, was represented by Lefko and Asher.
The sale price was $3,400,000, representing
the lowest cap rate and highest price per square foot in the region for a
multi-tenant pad without a corporate tenant.
“We were able to generate
five all-cash offers and procured a California-based 1031 exchange buyer,” said
Lefko. “We negotiated a 10-day due diligence period and quick close before all
of the tenants were open for business.”
Located 14 miles south of
downtown Kansas City, the property is highly visible to over 82,000 cars per
day along Highway 71 (I-49). More than 96,000 households and 240,000 people are
in a five-mile radius of the property.
 |
| John Stafford |
“There were many factors
which were attractive to a prospective buyer,” said Asher. “This is a great
freeway-visible location in a newly redeveloped regional power center with
strong demographics and, consequently, the property sold for 10 percent higher
than seller's proforma disposition price.”
In an off-market
transaction, Lefko and Asher also negotiated the sale of a 6,360-square-foot
newly-renovated multi-tenant pad building situated on .58 acres along a major
retail corridor in Raytown, Missouri.
Built in 2015, the
100-percent-occupied building is located at 9105 East 350 Highway in Raytown,
nine miles from downtown Kansas City.
The property is occupied by three
tenants: AT&T, Domino’s and Great Clips. Lefko and Asher represented the
buyer, National Realty Group, Inc. based in Los Angeles.
The seller, a private
developer based in Kansas City, represented itself. The sale price was
$2,030,000.
“We identified an
off-market property for a 1031 exchange buyer with 15 days left to find a
property. We were also able to procure a better-than-market financing through a
local relationship bank,” said Lefko.
For a complete copy of the company’s news release,
please contact:
Anne Monaghan
MONAGHAN COMMUNICATIONS,
INC.
anne@MonaghanPR.com
830.997.0963
No comments:
Post a Comment