Property Highlights
NOTES
- Center purchased out of foreclosure and had been neglected by ownership
- Incomplete and in some cases conflicting records
- Lender required quick close as a condition of sale
- Complex co-tenancy and default issues
- Termination notice received by significant tenant three weeks prior to closing
Property Overview
Power Center
Stateline Station, Kansas City, MO
2003 - 2005
163,130 SF
The End Result
December 20, 2016
$10,750,000
$65.90
MAJOR POINTS
- Worked with tenants on co-tenancy and default issues
- Renegotiated price to reflect lease termination and other issues discovered during due diligence
- Closed transaction for cash 90 days after effective date of Letter of Intent and 68 days after execution of Purchase Agreement
