California REIT buys KC’s Park Place for $126.5 million

Park Place tenants include 801 Chophouse, California Pizza Kitchen and RA Sushi. | Courtesy of Park Place/Facebook
Park Place tenants include 801 Chophouse, California Pizza Kitchen and RA Sushi. | Courtesy of Park Place/Facebook

A California-based real estate investment trust, KBS Real Estate Investment Trust III, has purchased the retail and office portion of the Park Place mixed-use development in Leawood, Kan., for $126.5 million.

The office and retail properties are 95 percent leased to 55 tenants. The area includes 483,119 square feet of retail and Class A office space.

AMC Entertainment Inc. is headquartered in the office component, while the retail component includes boutique and national brand stores, plus trendy restaurants.

Ken Robertson, regional president of KBS, said the office real estate market in south Johnson County made Park Place a particularly attractive target.

Read more from the Kansas City Business Journal


Tags:, , ,

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more