LEAWOOD, Kan.--(BUSINESS WIRE)--KBS, one of the largest investors in commercial real estate, announces that seven new local and national retail tenants are coming to Park Place Village, a 484,002 square-foot office and retail property in Leawood, Kansas. Park Place Village is owned by KBS Real Estate Investment Trust III.
The new tenants include national day spa MassageLuXe and the locally-based favorite Plate, a modern Italian restaurant; Bamboo Penny’s, a Thai restaurant and rooftop lounge; Ice Cream Bae, a creative ice cream shop; an all-new island-themed coffee shop and bar concept, Outta the Blue; Moda Domani, a provider of bespoke custom-made men’s suits, clothing and accessories; and Moshiri Jewelry, a seller of custom-designed jewelry.
“This diverse group of eateries, boutiques and personal care providers is the perfect fit for Leawood,” says Marc DeLuca, Eastern regional president for KBS. “Through these retailers, Park Place Village is delivering a first-class shopping and dining venue for the whole community.”
The seven new tenants complement the existing retail offerings at Park Place Village, including such popular restaurants as 801 Chophouse, BurgerFi and RA Sushi Bar, fitness options Orangetheory and The Bar Method and many others. The new tenants at the property have been carefully selected to appeal to the Kansas City market, according to Dan Park, senior vice president for KBS and asset manager for Park Place Village.
“We thoughtfully curated retailers that align with what local residents are demanding. This includes innovative concepts that are unique to this market such as Plate, Bamboo Penny’s, Outta the Blue, Moda Domani, Moshiri Jewelry and Ice Cream Bae,” says Park. “This carefully chosen mix is what distinguishes Park Place Village from other local properties and keeps people coming back time and again.”
In addition to Park Place Village’s one-of-a-kind shopping experience, numerous events are held at the property’s outdoor community courtyard – a place Kansas City residents gather for events throughout the year – including the upcoming summer concert series, movies in the square and the all-new Park Place Farmers’ Market, notes Park.
“Park Place Village has become the central gathering spot for residents and visitors of all ages and interests in Kansas City,” says Park. “Located in the heart of Leawood, this open-air center has a calendar of exciting events planned that activate the local neighborhood and attract people from many miles around – people who are seeking outdoor gathering spaces like this to enjoy a sense of community with their friends, family and co-workers. Park Place Village delivers all of this and more.”
Matt Rau of CBRE represented KBS in the seven recent lease transactions, which range in size from 803 square feet to 5,972 square feet.
“We have seen strong interest from retailers who want to set up shop at Park Place Village, a highly desirable location in the Leawood market that attracts a steady stream of visitors from near and far,” says Rau. “We work closely with KBS to bring in the right retail businesses at the property that match with this demand.”
Completed in 2013, Park Place Village consists of 10 buildings that include a mix of office, retail tenants and nearby residential space. In addition to the retail offerings, amenities for office tenants at the property include a fitness center, bike storage, EV car-charging stations, on-site parking, a rooftop view terrace, an energy-management system, nearby shopping, transportation and entertainment. The surrounding area features parking garages, the Aloft Hotel, 201 apartments, 30 townhouses and 27 lofts. Future planned phases of development for the area surrounding the property include another hotel and additional multifamily rental housing.
“The new retail tenants accentuate the exceptional office experience at this center, making it even more attractive for companies in the area,” notes Park.
Park Place Village is located at 11549 Ash Street in Leawood, part of Kansas City’s South Johnson County submarket.
Please click here for photos of Park Place Village.
KBS is one of the largest investors of premier commercial real estate in the nation. As a private equity real estate company and an SEC-registered investment adviser, KBS and its affiliated companies have completed transactional activity of more than $43 billion on behalf of private and institutional investors globally. Founded in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and operates prime commercial real estate in some of the most successful epicenters in the country. The firm is committed in its business ethics, its business relationships and its constant focus on exceeding the expectations of its investors, partners and tenants. SEC registration as an investment advisor does not imply any particular level of skill or training. For more information on KBS, please visit www.kbs.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS Real Estate Investment Trust III’s ability to invest in and manage a diverse portfolio, and the performance of Park Place Village and of the Kansas City, Kansas real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS Real Estate Investment Trust III’s and/or Park Place Village’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.