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KANSAS CITY, MO-Three of the area’s best known shopping centers have traded hands. Locally-based LANE4 Property Group Inc. has purchased Prairie Village Shopping Center, Corinth Square Shopping Center and the Fairway Shopping Center from Highwoods Properties. The purchase price was not disclosed, but reports list the selling price as $62.1 million.

“These properties are a strong complement to our existing leasing and management portfolio,” says Trip Ross, an associate at LANE4. “This is a once-in-a-lifetime opportunity to be involved with some of Kansas City’s best retail centers.” Ross, along with Justin Kaufmann, will oversee leasing of all three centers.

Highwoods purchased the 416,000-square-foot portfolio in 1998 from JC Nichols Co. There are nearly 100 retailers located within the three shopping centers including Macy’s, CVS, Chico’s, The Toon Shop and Rainy Day Books.

LANE4 has no immediate plans for renovations, but president Owen Buckley says, “We intend to enhance and upgrade the centers as opportunities arise over time, but these improvements will not change their basic character. We look forward to taking good care of them and feel they represent an excellent opportunity to invest in our community.”

LANE4, which was started in 2006, now owns or manages properties throughout the Midwest, focusing mostly on the state of Missouri.

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