Mid-America Real Estate Brokers KS Shopping Center Deal
- Sep 01, 2017
Mid-America Real Estate Corp. together with RH Johnson closed on a retail center transaction on behalf of the seller, a private developer. The 100,000-square-foot property is part of Derby Marketplace, located in Derby, Kan.
Phoenix-based VEREIT represented the buyer, Cole Credit Property Trust V Inc., a REIT investing in single-tenant or multi-tenant retail properties subject to long-term leases. The seller’s brokers are Joe Girardi, Mid-America principal and Eric Gonsher, vice president with RH Johnson.
The parcel is located at the northeast corner of 71st Street and Rock Road and hosts retail stores Hobby Lobby, Ross Dress for Less and TJ Maxx. The shopping center, which has expanded significantly within the last years, is anchored by Target and Dillons Marketplace. It also includes several chain restaurants such as Olive Garden, Chipotle Mexican Grill and Panera Bread.
The property is approximately 12 miles from Wichita, Kans., and serves Derby’s population of more than 20,000.
Image via Google Street View