HSM Equity Partners Acquires Four Shopping
Centers
DALLAS,
TX - July 11, 2006 --
Henry S. Miller Equity Partners has acquired four shopping
centers in the Kansas City area totaling 575,000 square
feet. This $70 million transaction spearheaded by Mr. Vance
C. Miller, Chairman & CEO of Henry S. Miller Companies,
brings the extraordinary Miller investment portfolio to over
$500 million with 50 properties total. The four
shopping centers are as follows:
1. Regency Park Shopping Center located at 93rd and
Metcalf Avenue in Overland Park, Kansas; 201,974 square feet; 92%
occupancy level with anchor tenants including Borders, Marshalls,
Dress Barn, Michaels and Micro Center.
2. Westbrooke Village North Shopping Center located
at Quivira Rd. & 75th Street in Shawnee, Kansas; 133,915 square
feet; 82% occupancy level with anchor tenants DSW Shoes, K & G and
Borders.
3. Westbrooke Village South Shopping Center located
at Quivira Rd. & 75th Street in Shawnee, Kansas; 103,732 square
feet; 90% occupancy level with anchor tenants Dillon’s Grocery
(Kroger owned) and Starbucks.
4. Pinetree Plaza Shopping Center located at HWY 50
(Blue Pkwy) and Jefferson Street in Lees Summit, Missouri; 134,750
square feet; 97% occupancy level with anchor tenants Price Chopper,
Brook Mays and Baskin Robbins.
Mr. Vance C. Miller explains, “This represents an outstanding
investment portfolio and reveals one of the strong growth areas in
the Midwest. We are very proud to add this acquisition to the Miller
portfolio. The size of the portfolio was attractive and gives our
companies a major presence in Kansas City. This represents 850,000
square feet of shopping centers acquired by Henry S. Miller Equity
Partners in the first half of the year.”
Mr. Miller was assisted in the transaction by Steve Harris,
President of Henry S. Miller Equity Partners, and Chance Johnson,
Managing Director of Henry S. Miller Equity Partners. Financing was
provided by Wachovia Securities (NYC).
Henry
S. Miller Commercial, founded in 1914, is Texas’ largest
independent commercial real estate firm and a member of The
Commercial Network, one of the largest affiliations of
commercial real estate firms in the nation.
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