Business

June 23, 2014

Creekwood Commons shopping center sold

California-based BIG Shopping Centers buys 90 percent interest in Kansas City Northland retail center anchored by Hy-Vee.

The Creekwood Commons shopping center at Englewood Road and North Oak Trafficway has been sold to a California investor for $24.6 million.

Copaken Brooks, the previous owner, will retain a 10 percent interest in the 206,000 square-foot shopping center and continue to manage the property. BIG Shopping Centers USA purchased a 90 percent ownership in the property.

The shopping center opened in 1989 and is located on 13 acres at Northeast Englewood Road and North Oak Trafficway. It was renovated in 2005 and is 100 percent occupied.

Its main tenant is a Hy-Vee supermarket. The other tenants include Party City, 24-Hour Fitness, Famous Footwear, Mattress Firm, Panera Bread and Chipotle.

“This acquisition mark’s BIG’s entry into Missouri, allowing us to continue to build a Midwest foothold, a region with many pockets of long-term growth, Stanley L. McElroy, Jr., president of the BIG USA, said in a statement.

To reach Kevin Collison, call 816-234-4289 or send email to kcollison@kcstar.com. Follow him on Twitter @kckansascity

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