Tri-Land To Begin $25M Retail Expansion

OVERLAND PARK, KS-Tri-Land Properties Inc. will start construction in October on its $23 million redevelopment of the 118,000-sf Cherokee South Plaza here. The project is one of five retail centers that the company bought in Kansas in the past three years, totaling about 634,000 sf, all with renovations planned.

The 45-year-old Cherokee Plaza lost a grocery-store anchor soon after the purchase. Since then, Tri-Land has worked with the city to obtain a $3.5 million TIF to help bring in a new Walgreens, as well as adding a 17,000-sf Paul Mitchell Salon and adding more out-lots to the center, says Hugh Robinson, EVP with Tri-Land. He says the grocery building has been demolished, and the site will be redone by summer 2009.

“The occupancy right now is slightly less than 50%, but we anticipate that with six months of completion that we will be stabilized at the property, at 90% to 95% occupied,” Robinson tells GlobeSt.com “This is a Main and Main location, at 95th Street and Antioch, one of the major arteries in the city and very densely populated with middle-families.”