**Federal Realty Enters Kansas City Market with $289M Acquisition of Town Center Retail Centers**
Federal Realty has made its entry into the Kansas City metropolitan area with the acquisition of Town Center Plaza and Town Center Crossing in Leawood, Kansas. The two premier retail centers were purchased for a total of $289 million.
Situated at the prominent intersection of 119th Street and Roe Avenue, Town Center Plaza and Town Center Crossing offer a combined 550,000 square feet of retail space. Currently, Town Center Plaza is 92% occupied, while Town Center Crossing boasts a 94% occupancy rate.
These high-performing shopping destinations are anchored by nationally recognized brands including Trader Joe’s, Apple, and Restoration Hardware. Additionally, the tenant mix features popular retailers and eateries such as Gorjana, Whole Harvest Kitchen, and Aritzia.
This acquisition is part of Federal Realty’s broader capital allocation strategy aimed at recycling mature assets to fuel future growth. The company’s extensive portfolio spans approximately 27 million square feet of commercial space and includes 3,100 residential units across 102 properties.
“These strategic moves demonstrate how we thoughtfully unlock value and redeploy capital to drive growth,” said Don Wood, President & Chief Executive Officer of Federal Realty.
The purchase of Town Center Plaza and Crossing underscores Federal Realty’s continued expansion and investment in high-quality, well-located retail properties across the U.S.
