CTO Realty Growth Expands Into Kansas City Market With Acquisition of Zona Rosa for $63.3 Million
CTO Realty Growth acquired Zona Rosa, a 768,000-square-foot mixed-use retail, dining, and entertainment center in Kansas City, Missouri, for $63.3 million, or $82 per square foot — its entry into that market. The property is 67% leased, anchored by Dick's Sporting Goods, Barnes & Noble, Old Navy, Burlington, and DSW, and draws roughly 5.5 million visits annually. It includes 10 acres of entitled development land and about 100,000 square feet of underutilized space, which management frames as a long-term, multi-phase repositioning opportunity. CEO John P.
Key figures
- Deal Value Usd
- 63300000
- Site acres
- 64
- Annual visits
- 5.5 million
- Occupancy pct
- 67%
- Price per sqft
- $82
- Property size sqft
- 768000
- Ytd total investments
- $334 million
- Ytd acquisition volume
- $200 million
- Blended initial cash yield
- 9.5%
- Blended entry cash cap rate
- 8.2%
- Entitled development land acres
- 10
- Five mile trade area population
- 100000
AI analysis
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