Shawnee Station LLC purchased the 440,000 square foot shopping center on the northwest corner of Shawnee Mission Parkway and Pflumm Road. Terms were not disclosed. The one-year-old property, however, has been appraised at more than $34 million.
Shawnee Station LLC bought the shopping center from AIG Baker Shopping Center Properties in Birmingham, Alabama. AIG Baker was represented by Ronald L. Carlson, executive vice president and Nick Whitehead, in-house counsel.
Mike Staenberg, president of THF Realty, John Rubenstein and Jodi Belpedio of Rubenstein Real Estate negotiated the transaction for Shawnee Station LLC. Rubenstein will manage and lease the property.``We are at ground zero out here,'' says Belpedio.``The growth is phenomenal. You can't believe the number of rooftops and retail stores going in. It just keeps growing.''
Major tenants of the shopping center, which is more than 98 percent leased, include Target, Kohl's, Office Max, Old Navy, PetSmart, Bed,Bath & Beyond, and Michael's.
Kroenke is married to a niece of Sam Walton, founder of Wal-Mart. Based in Columbia, Mo., the Kroenkes this summer also purchased the Denver Nuggets and the Colorado Avalanche sports franchises as well as Denver's Pepsi Arena.
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