$27.4 million sale of gym-anchored shopping center in Kansas City, Missouri, closed by HFF
CHICAGO, IL – November 17, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $27.4 million sale of The Shops at Boardwalk, a 122,397-square-foot, 100-percent-leased shopping center in Kansas City, Missouri.
HFF worked on behalf of the seller, Retail Properties of America, Inc. GDA Real Estate Services, LLC purchased the asset on behalf of ACF Property Management, Inc. free and clear of debt.
The property is fully leased to a roster of national and regional tenants including Gold’s Gym, Jos. A. Bank, Kirkland’s, Chipotle, Houlihan’s, Rue 21, Maurices and a separately-owned Lowe’s and Walmart. Situated on 14.55 acres at 8628 North Boardwalk Avenue, The Shops at Boardwalk is in the epicenter of the Northland Kansas City retail submarket at the intersection of Missouri Highway 152 and Interstate 29, where approximately 96,000 vehicles pass per day.
The HFF investment sales team representing the seller was led by directors Amy Sands and Clinton Mitchell and senior managing director Barry Brown.
According to HFF, the synergistic mix of fitness, apparel, specialty and restaurant uses complement neighboring big box retailers that attract significant daily traffic to the site.
About Retail Properties of America, Inc.
Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States. As of September 30, 2015, the company owned 201 retail operating properties representing 29.2 million square feet. The company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the company is available at www.rpai.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Missouri licensed real estate broker.