{"id":1004203613,"date":"2018-01-15T10:06:57","date_gmt":"2018-01-15T18:06:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203613"},"modified":"2022-12-06T20:25:42","modified_gmt":"2022-12-07T04:25:42","slug":"baceline-acquires-kc-shopping-center-sells-indy-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/baceline-acquires-kc-shopping-center-sells-indy-asset\/","title":{"rendered":"Baceline Acquires KC Shopping Center, Sells Indy Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004203614\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004203614\" data-attachment-id=\"1004203614\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/baceline-acquires-kc-shopping-center-sells-indy-asset\/piper-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Piper Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Piper Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png?w=800\" loading=\"lazy\" class=\"wp-image-1004203614 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png\" alt=\"Piper Plaza\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Piper-Plaza.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004203614\" class=\"wp-caption-text\">Piper Plaza<\/p><\/div>\n<p>Baceline Investments has purchased Piper Plaza, a shopping center in Kansas City, Kan., for $6.3 million from McCownGordon Construction. The acquisition was partially funded by the sale of the firm\u2019s Madison &amp; Edgewood Shoppes in Indianapolis for $4.3 million.<\/p>\n<p>Built in 2005 at 10940 Parallel Parkway, the property sits within one mile of Interstate 435. The building is situated in a busy retail district of the city and is less than a half mile from the Legends Outlets outdoor shopping center and a number of big-box retailers, including Sam\u2019s Club, Target and Walmart. Two local bus routes operate a stop next to the property.\u00a0Piper Plaza is 97 percent leased, with Quest Diagnostics, The UPS Store, Danny\u2019s Bar &amp; Grill North and a few smaller tenants occupying the building.<\/p>\n<h2>Funding the acquisition<\/h2>\n<p>The Madison &amp; Edgewood Shoppes retail property, located at 5855 Madison Ave. in Indianapolis, was sold following just under three years of ownership by Baceline. The company had acquired the shopping center in January 2015 for $2.4 million, according to public records. Tenants in the building include a dental practice, a pet supply store and a few restaurants and salons. A Kroger grocery store under separate ownership sits next to the building.<\/p>\n<p><em>\u201cPiper Plaza is a notable addition to our portfolio and a quintessential fit for our niche investment approach,\u201d<\/em> said David Puchi, managing partner of Baceline, in a prepared statement. Regarding the sold property, he added, <em>\u201cBaceline was able to maximize the potential of Madison &amp; Edgewood in a relatively short time by implementing institutional property management and leasing strategies, while replacing obsolete business concepts.\u201d<\/em><\/p>\n<p>Last month, Baceline acquired a <a href=\"https:\/\/www.commercialsearch.com\/news\/baceline-acquires-madison-shopping-center-for-3m\/\">community shopping center<\/a> in Madison, Wis., for $3 million.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The shopping center is set in a busy retail corridor and is home to a mix of retail tenants including Quest Diagnostics and The UPS Store.<\/p>\n","protected":false},"author":861,"featured_media":1004203614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1590,1592,13,21742,21749],"tags":[37812,38634,33526],"class_list":["post-1004203613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-indianapolis","category-kansas-city","category-midwest","category-latest","category-retail","tag-baceline-investments","tag-david-puchi","tag-quest-diagnostics-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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