photo credit: Yaeger Architecture
Kansas City, Kansas
The shopping center consists of the redevelopment of a 1960’s neighborhood shopping center anchored with a grocery store, located at the intersection of 78th Street and State Avenue in Kansas City, KS. The project involved the partial demolition and expansion of the existing 182,000 sf center to approximately 220,000 sf. The existing grocery store was relocated to a large, new space at the opposite end of the center and the existing store was backfilled with first-to-the-trade area national junior anchor stores. The center included the addition of several new pad sites adjacent to State Avenue. The redevelopment effort included overall site and building façade improvements and a newly-constructed signalized intersection.
The shopping center remained open during the reconstruction efforts. This required a concerted effort with the city, tenants and development team in order to orchestrate the multi-phase approach. Considering the large amount of demolition both to the building façade and site, the project remained on schedule without a tenant delivery miss. The project is now complete, and has recently sold.
Work completed while engaged with a previous employer
“I’ve worked with Bart Lowen on two projects now and honestly believe if it weren’t for Bart, our projects would not have gotten done. Bart is very knowledgeable about real estate development issues and is very professional to work with. I would highly recommend Bart and his new company to anyone considering any new commercial development.”
Chief Operating Officer, Ball’s Foods
Approximate Sources & uses of funds:
Net Bond Proceeds $12,000,000
Private Loan $18,500,000
Total Sources $30,500,000
Hard Costs $19,200,000
Soft Costs $4,100,000
Total Development Cost $30,500,000