JLL Capital Markets arranged the sale of the 363,076 -square-foot Merriam Town Center in Merriam, Kansas
News release
12 January 2023
Open-air regional power center in Kansas City MSA sells
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CHICAGO, Jan. 12, 2023 – JLL Capital Markets announced today that it has closed the sale of Merriam Town Center, a 363,076-square-foot, open-air, regional power retail center located in the Kansas City submarket of Merriam, Kansas.
JLL represented the seller in this transaction, and The R.H. Johnson Company acquired the asset.
Built in 1998, Merriam Town Center is currently 97% leased to Home Depot, Dick’s Sporting Goods, Cinemark, Ross Dress for Less and PetSmart.
The property is located at 8800 Johnson Drive, Merriam, Kansas, set directly off Interstate 35 allowing unobstructed visibility to the approximately 128,000 vehicles per day passing by. The property is within a five-mile radius of approximately 206,500 people and an average household income of $92,500.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Amy Sands and Director Michael Nieder.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The R.H. Johnson Company
Founded in 1992, The R.H. Johnson Company is a privately held real estate company that acquires, develops, manages, and leases retail real estate assets throughout the Midwest. Since its inception, it has developed and acquired over thirty million square feet of power centers, grocery-anchored centers, and single tenant assets leased to first-in-class retailers with a current portfolio comprised of 50 properties in dozens of markets throughout the Midwest.