Click on a property on the map below to view the Tri-Land transformation.
CITY, ST | #### SQ. FT.
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.
In 2006, Tri-Land acquired a 15.53-acre, 164,837 SF, Cub anchored shopping center from SPE, LLC. The property was repositioned into a 184,837 SF community shopping center with outlots, street retail, and a hotel.
Downsize/remodel Cub Foods to a prototypical new store size of 65,000 SF at Cub’s expense.
Constructed new Fridley Liquor store (at Cub’s cost) to allow for relocation/downsizing of Cub Foods.
Constructed two new outlot buildings facing the new Cub Foods for McDonalds and various street retail tenants.
Added Duluth Trading Company as a co-anchor to the shopping center.
Renovated common areas to a new shopping center quality environment.
Sold 2.5 Acre parcel to limited service hotel developer
Increased center size from 164,837 SF to 184,279 SF.
A 48,802 square foot shopping center located at the corner of 127th Street and Mur-Len Road in Olathe, Kansas, approximately 19 miles southwest of downtown Kansas City was acquired. A new bridge for 127th Street over I-35 was completed and dramatically increased traffic counts on 127th Street. Tri-Land’s business plan was to initially lease up available space and renew or replace existing tenants at market rates while upgrading the center’s exterior.In 2002, Tri-Land acquired a 452,000 SF, 38.5-acre enclosed mall from the REO Department of John Hancock Life Insurance Company. The retail property was repositioned into a 310,000 SF community shopping center anchored by Price Chopper Supermarket, Lowe’s Home Improvement, Office Max, and 25 small shops.
Retail Repositioning Plan
Demolished approximately 90% of the building improvements.
Completed a new 70,000 SF Price Chopper lease prior to the closing. Price Chopper built their building with a building allowance.
Secured $8.5 million of Empire Zone bonds prior to closing.
Price Chopper and Lowe’s built 190,000 SF. Tri-Land remodeled 35,000 SF of the former mall stores and built 75,000 SF of new buildings.
Lowe’s Home Improvement purchased 11 acres of the site.
Increased occupancy from 23% to 100%.
Bought the property in 2002; sold in 2006.
Price Chopper’s first year sales were $37 million.
Lowe’s first year sales were $45 million.
Upon sale of Market Place in 2006, achieved IRR of 39.4%
Tri-Land purchased a property that included an operating Kmart in Downers Grove, IL, and negotiated a buyout of the Kmart lease. A 70,000 square foot lease was executed with Dominick’s. The former Kmart facility was demolished and a new 110,000 square foot supermarket-anchored center was constructed which included inline space and an outlot parcel.In 2000, Tri-Land acquired a 16-acre, 270,000 SF, 80% vacant, three-story shopping center from Tom Daly, a private New York investor who sold Tri-Land three properties during a four-year period. Tri-Land capitalized on the center’s high-density and underserved minority market to convert it into a two-story urban shopping center anchored by Shopper’s Warehouse Foods (SuperValu) and KMart.
Created two-story urban shopping environment, taking advantage of topography to position on-grade parking at each level.
Reconfigured traffic flows from Baltimore National Pike and constructed a new bridge to provide accessibility to the upper parking field.
Reconfigured existing building to accommodate a 110,000 SF KMart on the first floor. Shoppers Warehouse Foods (SuperValu) leased 65,000 SF of the second floor space.