Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Oak Park Commons, a community shopping center located in one of Kansas City’s most prominent and affluent suburban areas.
The 348,983-square-foot center was sold to a joint venture between Bloomfield Hills, Michigan-based Lormax Stern and New York-based Time Equities Inc.
Oak Park Commons boasts a high-profile tenant base including Ross Dress for Less, Hobby Lobby, Ulta, Verizon, Dollar Tree, Petco, K&G Fashion Superstore, Northern Tool + Equipment, Shoe Carnival, Chipotle, Panda Express, and Aspen Dental, and shadow-anchored by Sam’s Club, Best Buy, DSW, Planet Fitness, O’Reilly Auto Parts, and Ollie’s.
The center is positioned along 95th Street on both sides of Quivira Road immediately between full interchanges with both the I-35 and U.S. Route 69 freeways, and directly across from the Oak Park Mall, Kansas City’s dominant, #1 ranked super-regional enclosed mall. The center caters to a very dense and affluent demographic profile, with a residential population of 241,000 earning average household incomes of $116,000 within 5 miles.
Mid-America Real Estate Corporation Principal Ben Wineman, in cooperation with The R.H. Johnson Company Principal Eric Gonsher, was the exclusive listing broker in the transaction on behalf of New York, NY-based DRA Advisors.
