Stan Johnson Company Brokers Sale of Summit Orchards Shopping Center Near Kansas City, Missouri
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Summit Orchards, an 81,185-square-foot grocery-anchored community center. Located at 440-560 Northwest Chipman Road in Lee’s Summit, Missouri, the center was 100 percent leased at the time of sale. Margaret Caldwell, Patrick Kelley, Jason Powell and Max Van Dresser of Stan Johnson Company represented the seller, Townsend Summit, an affiliate of Townsend Capital, a Maryland-based investor and developer. Jenel Real Estate, a private family office based in New York, purchased the asset.
“Summit Orchards received a lot of pre-emptive bids due to the long-term anchor leases and strong demographics of the area,” said Margaret Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.
Summit Orchards is a newly developed center anchored by ALDI, HomeGoods, Ross Dress For Less and Five Below. Situated on approximately 9.6 acres, the property is just 15 miles southeast of downtown Kansas City, Missouri. The center is adjacent to a university, two multi-family complexes and a commercial office campus in the fast-growing city of Lee’s Summit.
“Driven by the investment-grade credit of the all-star cast of anchors, Summit Orchards checked all the boxes as a new development in a growing submarket of Kansas City,” added Patrick Kelley.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.