PRAIRIE VILLAGE AND FAIRWAY, KAN. — Kansas City, Mo.-based LANE4 Property Group has acquired three shopping centers located in the Kansas City metropolitan area. The properties include: Prairie Village Shopping Center, located at the intersection of 71st Street and Mission Road in Prairie Village; Corinth Square North and Corinth Square South, located at the intersection of 83rd Street and Mission Road, also in Prairie Village; and Fairway Shopping Center, located at Shawnee Mission Parkway and Belinder Road in Fairway. The portfolio totals more than 416,000 square feet of space, along with 154,000 square feet in ground leases; all of the centers are anchored by grocery stores. Major tenants include Hen House Grocery, Westlake Hardware, Macy’s, CVS/pharmacy and Chico’s. The portfolio was sold by Raleigh, N.C.-based REIT Highwoods Properties, which acquired the shopping centers in 1998 from their original developer, JC Nichols Co. All three were constructed in the 1950s and 1960s. LANE4 will manage and lease all three centers. Financing for the purchase was provided by the Kansas City office of Bank of America, with permanent financing provided by the Kansas City office of Grandbridge Real Estate Capital. The purchase price was not released.
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