Passco acquires Shoppes at Coronado Place I

Kansas City, Mo. -- Irvine, Calif.-based Passco Cos. announced it has completed the acquisition of Shoppes at Coronado Place I, a 14,534-sq.-ft. strip center in Blue Springs, Mo., two miles from downtown Kansas City.



The purchase price was $4.3 million.



The property is across the street from a Wal-Mart, Home Depot and the new 600,000-sq.-ft. Adams Dairy Landing power center, anchored by Target.



The center, which was built in 2008, was 100% occupied at the time of sale. Tenants include Adams Dairy Bank, AT&T Wireless, Vintage Stock, Sports Clips and Panera.



Passco owns two other retail centers in the region: Pinnacle Village, a 126,909-sq.-ft. community center, anchored by Michaels and DSW Shoes, located 30 minutes west in Overland Park; and Olathe Station, a 620,000-sq.-ft. power center, anchored by Target, Bed, Bath & Beyond, Petco and Office Depot, located 40 minutes southwest in Olathe.