Marcus & Millichap Real Estate Investment Services of Kansas, Inc. brokered the sale of Lawrence 27, a 12,945-square-foot retail property in Lawrence, Kansas. The property sold for $4.52 million.
Zachary Turner, Scott Wiles, Erin E. Patton and Craig Fuller, investment specialists in Marcus & Millichap’s Cleveland and Columbus offices, represented the buyer, who was a Kansas-based partnership. There was no buyer broker involved and the team worked directly with the seller, a Kansas City-based development firm. Colby Haugness, Kansas Broker of Record, assisted in closing this transaction.
Lawrence 27 is located at 2624 Iowa St. in Lawrence, just a mile from University of Kansas. The subject property was originally built in 2014 and expanded in 2017 to add three more spaces. Lawrence 27 was 100 percent occupied at the time of the sale and tenants at the site included Buffalo Wild Wings, Tropical Café, Vapor World, Sports Clips and SunTan City.