LAWRENCE, KAN. — Partners of LANE4 Property Group, along with other investors, have acquired the I-70 Business Center in Lawrence, located about 35 miles west of Kansas City. The purchase price was undisclosed. The 95,000-square-foot center is located at 1025 N. Third St. The property was originally built in 1993 as a retail outlet, but has been repositioned in the last few years as a corporate office center. The center was 90 percent occupied at the time of sale. LANE4 plans to create two outparcels on the 12-acre site intended for restaurant and/or convenience store space. LANE4 will serve as the center’s property manager. Ken Schmanke of KS Commercial Real Estate Services Inc. will continue as the leasing agent for existing vacancies at the property.
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