Ten Quivira Plaza – Repositioned Supermarket Anchor Community Center
By admin September 20, 2017
Ten Quivira Plaza– Shawnee, KS (Sold 2016) Repositioned Supermarket Anchor Community CenterTri-Land acquired an 18.67-acre, 176,916 SF, 87% leased shopping center from DDR in 2006. Price Chopper anchored shopping center renovated in 2013.Repositioning Plan
- Create a strong visual identity for the major intersection of Shawnee Mission Parkway and Quivira Road featuring low brick walls, landscaping, flagpoles, and architectural lighting.
- Renovate main building facades, repave parking lot, and add two new pylon signs along Shawnee Mission Pkwy.
- Developed a new high visibility outlot pad with Starbucks and Panda Express.
- A CID was approved by the City of Shawnee in of 2012 providing $1.3 million to fund the various improvements described above.
- Price Chopper and Westlake (ACE) Hardware leases extended & relaxed development restrictions.
- Renovated vacant Burger King and leased to Jimmy John’s and Smoothie King.
Results
- Increased occupancy to 98%.
- Upon sale achieved an IRR of 28%.