Exclusive: Georgetown Co. Snaps Up Retail Center for $52M

January 28, 2026

Retail Investment Kansas City Midwest More News

Hen House anchors the Kansas City-area property.

Exterior shot of Waterside Residences Shopping, a 166,500-square-foot retail center in Fort Worth, Texas. — Georgetown Co.’s retail portfolio comprises assets in Illinois, Georgia, Ohio, Florida, New York and Texas. *Image courtesy of Yardi Matrix*

The Georgetown Co. has purchased Camelot Court Shopping Center, a 173,460-square-foot retail center in Leawood, Kan., according to Yardi Matrix. MD Management sold the asset for $52.4 million.

Lending firm Nationwide issued a $36.7 million acquisition loan, which is scheduled to mature in January 2031.

This is the first time the property changed hands since the former ownership developed it in 1990. Camelot Court comprises eight single-story buildings across a 24-acre site. Anchored by Hen House, the retail center features a tenant roster that includes CVS Pharmacy, Pizza Hut, McDonald’s, Red Door Grill, Smoothie King and Harry’s Liquor Store.

Located at 11721 Roe Ave., Camelot Court is close to Interstate 435 and U.S. Route 71, which connect the property to downtown Kansas City, Mo., 19 miles north. The property is also within walking distance of three other retail assets, namely Hawthorne Plaza, Town Center Crossing and Town Center Plaza.

Kansas City’s retail sector sees little improvement

Kansas City’s retail net absorption showed a slight improvement in the third quarter of 2025, a recent Cushman & Wakefield report shows. The metro’s net absorption clocked in at a negative 123,718 square feet, up 44 percent from the negative 222,079 square feet recorded in the second quarter.

However, the retail vacancy rate remained above the national average, having increased 30 basis points to 6.3 percent in September. Back then, the national index averaged 5.8 percent.