KBS announced the sale of Park Place Village, a 484,980-square-foot class A mixed-use asset consisting of office and retail space located in Leawood, Kan., an affluent suburb of Kansas City, Mo. The property was purchased by DFW Land, a real estate development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area. Park Place Village was owned by KBS Real Estate Investment Trust III.
Located in Kansas City’s South Johnson County submarket, Park Place Village is a 10-building, multitenant property developed in phases between 2007 and 2013. Today, the asset features a mix of tenants and offers amenities that include boutique shops, upscale restaurants and cafes, a fitness center, bike storage, EV car-charging stations, on-site parking, and a rooftop view terrace. The surrounding neighborhood features shopping and entertainment venues, parking garages, the Aloft Hotel, 201 apartments, 30 townhouses and 27 lofts.
