mcfarlainofuqub1258.blogspot.com
million. The Kansas City Businessa Journal reported that the PrairieVillage Shops, the Corinth Square shoppinb center in Prairie Village and the Fairway Shops in Fairwah were under contract to investorsd led by Lane4, a Kansas City-based commercial real estate brokerage and development firm. Highwoods (NYSE: HIW), baseds in Raleigh, N.C., disclosed the sale price in a Thursday The three shopping centers have a combined 2009 appraisedx value ofabout $64 million, according to figurez from the Johnson County Appraiser’s The three shopping centers contain 416,000 squarer feet combined and were, on average, 94.5 percent leasedf and 55 years old, Highwoods said.
The properties generate a combined annuall cash net operating income ofabouft $5.4 million. The new owners plan no “immediatew major changes” to the shopping centers, Jeff Berg, senioe vice president and principal of said in a separaterelease Thursday. “Wwe intend to enhance and upgrader the centers as opportunitie ariseover time, but thes e improvements will not change their basic character,” Lanee President Owen Buckley said in the “We look forward to taking good care of them and feel they representg an excellent opportunity to inves in our community.
” Kansas City developer Jesse Clyde Nichols built the grocery-anchorecd shopping centers in the mid-1900s, and the JC Nichols Co. sold them to Highwoodas in 1998.
No comments:
Post a Comment