Baceline Acquires KC Shopping Center, Sells Indy Asset
ByBaceline Investments has purchased Piper Plaza, a shopping center in Kansas City, Kan., for $6.3 million from McCownGordon Construction. The acquisition was partially funded by the sale of the firm’s Madison & Edgewood Shoppes in Indianapolis for $4.3 million.
Built in 2005 at 10940 Parallel Parkway, the property sits within one mile of Interstate 435. The building is situated in a busy retail district of the city and is less than a half mile from the Legends Outlets outdoor shopping center and a number of big-box retailers, including Sam’s Club, Target and Walmart. Two local bus routes operate a stop next to the property. Piper Plaza is 97 percent leased, with Quest Diagnostics, The UPS Store, Danny’s Bar & Grill North and a few smaller tenants occupying the building…
