INDEPENDENCE, MO—Los Angeles, CA-based IGP Business Group, which owns and operates enclosed regional malls throughout the United States, has acquired Independence Center in Independence, MO, a 951,399 square-foot super-regional mall servicing the eastern side of the Kansas City MSA. Anchor tenants including Dick’s Sporting Goods, Dillard’s, Macy’s and Sears are complimented by a lineup of more than 60 additional regional and national retailers.
An NKF Investment Sales team led by executive managing director Thomas Dobrowski and director Katharine French of the firm’s NYC office arranged the sale.
“Independence Center provides IGP with the opportunity to enhance and build-upon an already strong asset,” says Dobrowski. ”There are numerous opportunities to enhance the look and feel of the mall through development and cosmetic upgrades, including the addition of further uses such as entertainment and fitness.”
Originally built in 1974 and renovated in 2011, Independence Center is one of two enclosed regional malls in Kansas City. A stable and high-performing asset with significant value-add potential, the mall is the nexus of retailing activity in the eastern portion of the Kansas City metro area and is strategically located to provide a competitive advantage to national and regional retailers seeking enclosed mall opportunities within the trade area.