Real Estate Alert
Kansas City Shopping Center Coventry Real Estate Partners, a New York opportunity fund operator, is under contract at about $35 million for the 753,000-sf Ward Parkway Center in Kansas City, Mo. It would be the second trade in as many years of the retail property. Current owner Todd Interests of Dallas bought the property last year from Kansas Public Employees for about $20 million, when the center had a dark anchor following the loss of bankrupt retailer Montgomery Ward. Todd repositioned the property as a mix of mall and outdoor shopping center space, and brought in a number of new tenants. No broker is being used in the current transaction.
SOURCE: Real Estate Alert 5/14/2003