Marcus & Millichap closed the sale of Southgate Retail Center, a 25,515-square-foot shopping center in Olathe, Kansas.
Zach Turner, Erin Patton, Scott Wiles and Craig Fuller, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, worked directly with the seller, a local limited liability company, and secured the buyer, who was a West Coast-based limited liability company.
The subject property sold for $5.8 million, which was $227 a square foot. Colby Haugness, Kansas Broker of Record, assisted in closing this transaction.
Southgate Retail Center is located at 20120 W. 153rd St. in Olathe, which is part of the Kansas City market. The subject property was built in 2005 and is shadowed by Target and Home Depot off I-35. Southgate Center is occupied by prominent national retailers, such as Panera Bread, Jimmy John’s, Orange Theory, Mod Pizza and Sports Clips, as well as local service-based tenants, specializing in dental, nails, food and finance.