Tiffany Springs MarketCenter, 240,000-
square foot of retail off MO 152 and I-29 has been sold to American Realty Capital Retail Centers of America, a New York firm, for $53.5 million. The center’s 29 tenants currently account for 88 percent of the space available there, and the new owners expressed confidence in the site’s ability to turn a profit in a growth market.
City Brushes Up Vacant Site
A former fertilizer plant is getting new life as Lawrence VenturePark and new infrastructure as city officials continue efforts to re-purpose the property long operated by Farmland Industries. In addition to road improvements to the 400-acre site on the east side of Lawrence, the city has spent $165,000 to clear out asbestos-contaminated soil.
$40 Million Apartment Project
The hot streak in multifamily housing will continue in western Shawnee later this year with construction starting on Prairie Pines, a $40 million luxury-unit complex covering 35 acres. Backed with $3.8 million in tax-increment financing from the city, Shawnee Associates LLC will rise at 55th Street and K-7 highway with 222 units, some as spacious as 2,000 square feet with three bedrooms.
ATK Buys Bushnell
In one of the region’s biggset business deals of the year, Alliant Techsystems has acquired Bushnell Group Holdings, based in Overland Park. Price: $985 million. Bushnell, which sells binoculars, rifle scopes and other optics, has more than 1,100 employees worldwide.
Jostens Facility Sold
A hometown company, Southwest Publishing & Mailing Corp., has purchased the facility owned by yearbook publisher Jostens, with hopes of expanding the work force to as many as 300, and boosting sales by a third, to $40 million. Jostens moved production work from that site to Clarksville, Tenn., but kept some office operations in place. Southwest is expected to invest $3.5 million in plant upgrades and equipment.
$1 Billion Target in Reach
Thanks in large part to $600 million in upgrades at the General Motors Fairfax assembly plant, Wyandotte County is on threshold of recording $900 million in economic development projects for 2013, with a full quarter yet to go. Officials hope to hit $1 billion for the year after recording a $60 million in increase in September, bringin this year’s total to $880 million.