LEAWOOD, KAN. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood. DFW Land, a development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area, was the buyer.
Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features amenities such as boutique shops, upscale restaurants, a fitness center, bike storage, electric vehicle charging stations, onsite parking and a rooftop terrace. The surrounding area is home to shopping and entertainment venues, parking garages, the Aloft Hotel, 201 apartment units, 30 townhouses and 27 lofts.
Derek Fohl and Gary Carr of Newmark represented KBS in the sale. Additional team members involved in the transaction include Jim Postweiler, Peter Harwood, Jack Trager, Jake Paschen, Robert Hill, Chris Murphy and Austin Sheehan. The asset was fully leased at the time of sale. Attorneys Bruce Fischer and Howard Chu along with paralegal Amanda Kennedy of Greenberg Traurig LLP represented KBS as legal counsel in the disposition.