Property Types Retail
May 29, 2009
Highwoods Properties has completed the $62.1 million sale of a three-property retail portfolio located in the suburbs of Kansas City, Kan. The 416,000-square-foot portfolio, consisting of three grocery store-anchored community centers, was purchased by a partnership led by Lane 4, a Kansas City-based developer of lifestyle shopping centers, power centers and office properties. According to Highwoods, the properties currently generate net operating income of approximately $5.4 million. There was no assumable debt or seller financing available to the buyer. Real estate advisor Savills represented Highoods on the sale, with assistance from locally-based agent Kessinger Hunter.
Highwoods Properties has completed the $62.1 million sale of a three-property retail portfolio located in the suburbs of Kansas City, Kan. The 416,000-square-foot portfolio, consisting of three grocery store-anchored community centers, was purchased by a partnership led by Lane 4, a Kansas City-based developer of lifestyle shopping centers, power centers and office properties. According to Highwoods, the properties currently generate net operating income of approximately $5.4 million. There was no assumable debt or seller financing available to the buyer. Real estate advisor Savills represented Highoods on the sale, with assistance from locally-based agent Kessinger Hunter.
Recent Retail Headlines
