Mid-America Real Estate Corp. has successfully brokered the sale of Oak Park Commons, a 348,983-square-foot shopping center located in Lenexa, Kansas. The property was acquired by a joint venture between Lormax Stern and Time Equities Inc.
Ben Wineman from Mid-America and Eric Gonsher from The R.H. Johnson Co., represented the seller DRA Advisors in this transaction. Built in 1987 on a 12.8-acre site, Oak Park Commons consists of six buildings strategically situated at 12120 W. 95th Street near Interstate-35 providing direct access to downtown Kansas City and adjacent to Oak Park Mall.
The shopping center is home to popular tenants such as Ross Dress for Less, Hobby Lobby, Ulta Beauty , Verizon Wireless , Dollar Tree , Petco Animal Supplies Inc., K&G Fashion Superstore LLC., Northern Tool + Equipment Co . Shoe Carnival Inc . Chipotle Mexican Grill Inc . Panda Express Chinese Kitchen USA LLC.and Aspen Dental Management .
In addition to this acquisition by New York-based Time Equities JV with Lormax Stern Realty Partners LP; they also recently purchased another Midwest retail asset Burbank Plaza from an undisclosed private investor.
This news article originally appeared on Connect Commercial Real Estate’s website.
