Transactions - JULY 7, 2015

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KBS REIT III acquires Kansas retail property

by Zoë Wolff

KBS REIT III has purchased a Leawood, Kan., retail property from Park Place Developers for $126.5 million.

The sale of the 483,119-square-foot property was brokered by CBRE. The Park Place mall property features 10 buildings situated on 17 acres just outside Kansas City.

The mall was built in 2007 and is currently 95 percent occupied. Major tenants include 801 Chophouse, Gordon Biersch Brewery, California Pizza Kitchen and RA Sushi.

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