Lee’s Summit’s most prominent shopping destination, Summit Fair Lifestyle Center, was just acquired by a group of investors.
Located at the intersection of Interstate 470 and 50 Highway at Chipman Road, the major shopping center was acquired by a Block & Company, Inc., along with other investors.
Block & Company’s Zachary Albrecht and David M. Block, President of Block & Company, Inc., represented the buyers in the investment sale transaction. Block confirmed that the ownership has been transferred to a new group of local investors, including himself and Doug Compton from Lawrence.
The tenant mix at the approximately 510,000 square feet shopping center, encompasses a range of popular retailers, including sporting goods, apparel, restaurants, entertainment, services, fitness, healthcare, beauty and specialty stores, supported by several anchor tenants, such as JCPenney and Missouri Furniture Mart.
More than 4.3 million people visit Summit Fair annually, according to Placer.ai data, ranking in the top 7% of Missouri shopping centers. Tenants include Dick’s Sporting Goods, H&M, Lululemon, Made in KC Marketplace, Craft Putt, Orangetheory, Pure barre, Designer Shoe Warehouse (DSW) and McAlister’s Deli. Several new tenants on their way, include Sephora and LoveSac.
It’s the storefronts, walkability and community gathering spaces that people love.
The Southeast suburb, is a rapidly growing destination with popular attractions such as Cable Dahmer Arena, Faulkner’s Ranch, Kansas City Zoo & Aquarium, Arrowhead Stadium, Kauffman Stadium, Main Event, Powell Gardens, Kansas City’s Botanical Garden and Starlight Theatre all within a 30-minute drive or less.
The real estate company also plans to introduce community-focused events, according to a press release.
