Printer-friendly version CHICAGO, IL - January 16, 2014 – HFF announced today that it has closed the sale of Overland Crossing, a 174,497-square-foot shopping center in Overland Park, Kansas.
HFF marketed the center on behalf of the seller, Continental Properties Company, to a special purpose entity arranged by GDA Companies, who purchased the asset for $27.4 million free and clear of debt.
Overland Crossing is situated on 19.6 acres at 11900-12070 Metcalf Avenue at the intersection of Metcalf Avenue and 119th Street, two of Kansas City’s busiest retail corridors with an average daily traffic count of 55,100 vehicles. Completed between 1997 and 2000, the property is anchored by Burlington Coat Factory, Golfsmith and OfficeMax.
The HFF investment sales team representing the seller was led by director Danny Kaufman and associate director Amy Sands.
“Overland Crossing has arguably the best retail location in Kansas City, situated at the intersection of two of the busiest retail corridors in affluent Johnson County,” said Kaufman.
“In addition, the property benefits from its position at the center of a 26.4 million-square-foot office market, which provides a large daytime consumer base,” added Sands.
Continental Properties Company, Inc. is a national real estate development company headquartered in suburban Milwaukee, Wisconsin with a retail leasing office in Arizona. Founded in 1979 and still privately held, Continental has grown from a small real estate company to a major presence in the development industry.
GDA Real Estate Services, LLC is a commercial real estate acquisitions company in Greenwood Village, Colorado, that owns and operates over 84 properties in Arizona, California, Colorado, Oregon, Washington, South Carolina, Ohio, Georgia, Kansas, Missouri and Texas.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.