LANE4 Property Group recently closed on the purchase of Hawthorne Plaza, an upscale retail center at the Kansas City area’s most dominant retail intersection.
Situated on the southwest corner of 119th Street and Roe Avenue in Overland Park, Kansas, Hawthorne Plaza offers 135,000 square feet of shopping with 96% occupancy.
Many of Kansas City’s most luxurious one-location retailers call the 119th Street corridor home, including Hawthorne’s anchor tenant The Container Store. Additional one-location retailers at the prime corner include Restoration Hardware, Crate & Barrel, Pottery Barn, Arhaus and Williams-Sonoma.
Hawthorne’s average tenant occupancy tenure is 16 years, which speaks to the strength and reputation of the shopping center. The tenant roster includes a mix of local and national retailers aligned with the center’s upscale brand; however, majority of the center’s most beloved retailers are owned locally.
Since its development in 1990, Hawthorne Plaza has only transacted one other time. The original developer, Alpert Companies of Kansas City, sold the property to Dallas-based, Invesco in 2005 who invested significant renovations into the center in 2015.
LANE4 represented the purchasing group in this transaction while CBRE represented the seller. The purchase was finalized Dec. 8 and adds to LANE4’s burgeoning portfolio of assets. LANE4 will provide in-house management and leasing services for the center.
