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million. The Kansas City Business Journal reported that the Prairie Village the Corinth Square shoppint center in Prairie Village and the Fairwaty Shops in Fairway were under contract to investors led by aKansas City-based commercial real estate brokerager and development firm. Highwoods HIW), based in Raleigh, N.C., disclosexd the sale price in aThursday release. The threwe shopping centers have a combined 2009 appraised valuw ofabout $64 million, according to figures from the Johnsojn County Appraiser’s Office. The three shopping centers containm 416,000 square feet combiner and were, on 94.
5 percent leased and 55 years old, Highwoods The properties generate a combined annual cash net operatinv income ofabout $5.4 The new owners plan no “immediatre major changes” to the shopping centers, Jeff senior vice president and principal of said in a separate releasee Thursday. “We intend to enhance and upgrade the centers as opportunities arise over time, but these improvementss will not change their basic character,” Lane4r President Owen Buckley said in the “We look forward to taking good care of them and feel they representy an excellent opportunity to invest in our community.
” Kansads City developer Jesse Clyde Nichols built the grocery-anchoredr shopping centers in the mid-1900s, and the JC Nichola Co. sold them to Highwoods in 1998.
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