CTO Realty Growth Buys Zona Rosa for $63.3M, First Step into KC Market

Posted September 16, 2026

The Kansas City shopping center Zona Rosa has been sold for $63.3 million to a Florida-based real estate investment trust.

On Monday, CTO Realty Growth, Inc. announced it had acquired Zona Rosa, a 768,000-square-foot mixed-use center for $63.3 million, or $82 per square foot. Zona Rosa is located at 8640 N Dixson Ave.

With this acquisition, CTO has officially entered into the Kansas City market.

Located in the Northland, Zona Rosa has no comparable center within a 20-minute drive, attracting approximately 5.5 million visits annually. It is located six miles from Kansas City International Airport and has a five-mile trade area with a population of approximately 100,000.

The property will be a long-term, multi-phase revitalization opportunity for the company, according to a release. The property is currently 67% leased, anchored by Dick’s Sporting Goods, Barnes & Noble, Old Navy, Burlington, and DSW. Zona Rosa is a 64-acre center that includes 10 acres of entitled development land and approximately 100,000 square feet of underutilized space for future value-add repositioning.

“With the addition of this new property, our year-to-date property acquisition volume now exceeds $200 million at a blended entry cash cap rate of 8.2%, and, with structured investments, activity totals $334 million at a blended initial cash yield of 9.5%,” John Albright, President and Chief Executive Officer of CTO Realty Growth, Inc., said in the release. “Zona Rosa is a leading mixed-use center located in one of Kansas City’s fastest-growing neighborhoods, ringed by average household income levels of $124,000 within 5 miles.”

Founded in 1910, CTO is a publicly traded real estate investment trust headquartered in Winter Park, Florida. Including its most recent purchase of Zona Rosa, CTO owns 22 properties across eight states, according to its website.