TOPEKA, KS – [June 13, 2022] – Blue West Capital has completed the sale of a multi-tenant net leased retail property located at 1835 NW Topeka Blvd, Topeka, KS for $2,150,000. North Valley Shopping Center, sold for 95% of the listed price. This is the 10th Kansas retail property recently sold by Blue West Capital. Shawn Dickmann, Robert Edwards, and Zach Wright, of Blue West Capital, exclusively represented the seller in the transaction, a Kansas-based private equity real estate company. The purchaser was an all-cash California-based private investor.
The 19,200 square foot property is located along NW Topeka Blvd, the primary north-south thoroughfare in Topeka. The property also included six acres of industrial zoned land behind the shopping center. Tenants at the time of sale included a dental office, two restaurants, a hair salon, and H&R Block. Within the first week of marketing the property, several all-cash offers were received from out-of-state and local investors.
"Investors based in Western States continue to acquire net lease and retail properties located in Kansas and other Midwest markets. These investors are paying aggressive prices for Midwest real estate due to their inability to find similar quality and priced properties in their local markets. We have a vast network of West Coast investors seeking quality properties. Blue West Capital continues to be a gateway for West Coast capital to Midwest retail properties," stated Shawn Dickmann.
"We have an extensive track record of selling single-tenant and multi-tenant net lease properties in Kansas and surrounding Midwest states. Our investors are attracted to the lower price per square foot and higher cap rates of quality net lease properties found in the Midwest," added Robert Edwards.
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