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The R.H. Johnson Co. has bought Merriam City Heart, a 363,076-square-foot regional energy middle within the Kansas Metropolis suburb of Merriam, Kan. The vendor was SITE Facilities, in line with CommercialEdge knowledge, which had acquired the asset again in 2013 from Blackstone for some $49 million.
A JLL Capital Markets group led by Director Michael Nieder and Managing Director Amy Sands represented the vendor within the present transaction.
Accomplished in 1998, the open-air buying vacation spot encompasses eight buildings throughout a 46.7-acre website. Tenants at Merriam City Heart embody PetSmart, Ross Gown for Much less, Residence Depot, Cinemark and Dick’s Sporting Items. On the time of the sale, the middle was 97 % leased.
Merriam City Heart is situated at 8800 Johnson Drive, roughly 10 miles southwest of downtown Kansas Metropolis. The property is correct off Interstate 35, in an space the place the each day visitors rely reaches roughly 128,000 automobiles. The typical family earnings inside a five-mile radius is $92,500.
SITE Facilities has not too long ago bought Ashbridge Sq., a 386,248-square-foot energy middle in Downingtown, Pa. Institutional Property Advisors represented the vendor and procured the client, a three way partnership between Kahn Growth Corp. and J. Loew & Associates.
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