The Southridge retail center at 12090 Metcalf Ave. has been sold to California investors for $12.2 million. The 37,930-square-foot strip center was bought by Highpoint Capital Group LLC, a Los-Angeles investor in retail properties throughout the country. The sale is the group’s first purchase in Overland Park.
A local developer, Carson Development, sold the eight-year-old property. The transaction was arranged by Marcus & Millichap, a commercial real estate investment services firm.
“Johnson County’s excellent income demographics and substantial employment base (are) proving to be a strong draw for out-of-area investors, especially West Coast buyers,” said Ryan Bowlby, a Marcus & Millichap associate.