{"id":1004697378,"date":"2024-01-12T02:44:27","date_gmt":"2024-01-12T10:44:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004697378"},"modified":"2024-01-12T05:19:44","modified_gmt":"2024-01-12T13:19:44","slug":"time-equities-jv-buys-kansas-city-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/time-equities-jv-buys-kansas-city-shopping-center\/","title":{"rendered":"Time Equities JV Buys Kansas City Shopping Center"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a38606d5d077&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004697390\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/time-equities-jv-buys-kansas-city-shopping-center\/oak-park-commons\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Oak-Park-Commons-e1705056560151.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1675540737&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.005&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Oak Park Commons\" data-image-description=\"&lt;p&gt;Oak Park Commons is within a prominent and affluent suburban area. Image courtesy of Mid-America Real Estate Corp.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Oak Park Commons is within a prominent and affluent suburban area. Image courtesy of Mid-America Real Estate Corp.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Oak-Park-Commons-e1705056560151.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"151\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Oak-Park-Commons-e1704977907959.jpg?w=300\" alt=\"\" class=\"wp-image-1004697390\" style=\"width:400px\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Oak Park Commons is within a prominent and affluent suburban area. <em>Image courtesy of Mid-America Real Estate Corp.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The joint venture between <strong>Lormax Stern<\/strong> and <strong>Time Equities Inc<\/strong>. has purchased Oak Park Commons, a 348,983-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/cpe-asks-when-will-be-a-good-time-to-invest-in-retail\/\">shopping center<\/a> in Lenexa, Kan. The previous owner was <strong>DRA Advisors<\/strong>, according to CommercialEdge data. <strong>Mid-America Real Estate Corp<\/strong>. Principal Ben Wineman and <strong>The R.H. Johnson Co<\/strong>. Principal Eric Gonsher represented the seller.<\/p>\n\n\n\n<p>DRA Advisors has recently sold a <a href=\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-chicago-area-shopping-center\/\" target=\"_blank\" rel=\"noreferrer noopener\">172,697-square-foot retail center<\/a> in Darien, Ill., also with the assistance of&nbsp;Mid-America. Principals Rick Drogosz, Ben Wineman and Joe Girardi were instrumental in the deal.<\/p>\n\n\n\n<p>Completed in 1987, Oak Park Commons comprises six buildings on a 12.8-acre site. Its tenant roster includes regional and national retailers such as Ross Dress for Less, Hobby Lobby, Ulta, Verizon, Planet Fitness, Dollar Tree, Best Buy, Petco, K&amp;G Fashion Superstore, Sam\u2019s Club, Northern Tool + Equipment, Shoe Carnival, Chipotle, Panda Express and Aspen Dental.<\/p>\n\n\n\n<p>Located at 12120 W. 95th St., Oak Park Commons is close to Interstate 35, which provides direct access to downtown Kansas City, and directly across Oak Park Mall. The Johnson County property serves around 241,000 individuals within a 5-mile radius, with the average household income of $116,000.<\/p>\n\n\n\n<p>Kansas City\u2019s retail sector has shown resilience during 2023. According to a recent <strong>Marcus &amp; Millichap <\/strong>report, Johnson County remained one of the top submarkets for transactions, alongside East Jackson County and the North of the River area. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>DRA Advisors sold the suburban property.<\/p>\n","protected":false},"author":3014,"featured_media":1004697390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1592,13,21742,21749],"tags":[33919,50083,36646,35724],"class_list":["post-1004697378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-kansas-city","category-midwest","category-latest","category-retail","tag-dra-advisors-llc","tag-marcus-milichap","tag-mid-america-real-estate-corporation","tag-time-equities-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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