Mid‑America Real Estate sells Summit Fair, a leading Lee’s Summit retail destination

Mid‑America Real Estate Corporation’s Investment Sales Group announced the sale of Summit Fair, a well‑known retail and dining destination in the southeastern suburbs of Kansas City. Principals Ben Wineman and Joe Girardi served as the exclusive listing brokers on behalf of the seller, Phoenix‑based RED Development. On the buyer’s side, Block & Company, Inc., Realtors — represented by David Block and Zach Albrecht — acquired the property on behalf of a private investment group.

Located off Interstate 470 and U.S. Highway 50 in Lee’s Summit, Summit Fair is an open‑air “lifestyle center” boasting roughly 510,000 square feet of retail space and an occupancy rate near 90%. Anchors in the center include top national names like Dick's Sporting Goods, H&M, DSW and shadow‑anchors such as JCPenney and Furniture Mall of Missouri. The property also supports a broad mix of inline tenants, from retailers and fitness studios to restaurants and specialty shops — including Lululemon, Sephora, Orangetheory Fitness, Pure Barre, and many others.

According to the buyer’s announcement, Summit Fair attracts more than 4.3 million visits annually — placing it among the top 7 percent of shopping centers in Missouri by foot‑traffic performance. The lifestyle center’s pedestrian‑friendly layout, landscaping and walkable storefronts contribute to its popularity as a community gathering place.

With this acquisition, Block & Company now manages ten multi‑tenant centers in Lee’s Summit and plans to build upon Summit Fair’s success. The firm intends to expand the tenant mix, lease available space, and program community‑oriented events — efforts aimed at enhancing Summit Fair’s role as a long-term retail and social hub for area residents.

While earlier listing materials from Mid‑America reported a square‑footage figure of approximately 241,923, the buyer’s and public‑market sources align on the 510,000 SF benchmark. This suggests the larger number likely reflects the full center footprint rather than a subset — underscoring Summit Fair’s scale and regional importance. 

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Header image: The central courtyard of Summit Fair retail center in Lee's Summit, Mo. Image | Mid-American Real Estate

Astoria Healthcare Properties adds senior living to the map

The Retreat of Alameda will be the first senior living facility for Leawood, KS-based, Astoria Healthcare Properties, who has typically developed ambulatory surgery centers, surgical specialty hospitals and medical office buildings.

The assisted living and memory care facility consists of approximately 93,000 SF with 72 apartments for assisted living, and 38 memory care apartments in a separate, secured setting.

“Adding senior living as a product type is a natural extension for us. Our expertise is developing healthcare facilities with the goal of providing higher quality care at a lower cost. Not only is the demand for senior living increasing, but the ability to provide a product that provides quality care at an affordable price is in greater demand," said John Foudray, Astoria Healthcare CEO.

Amenities include a full kitchen and private dining room with wood slat ceilings, contemporary café/pub, theater, therapy room, fitness center, salon/barber, multi-activity room, lounge and outdoor courtyards. A looped walking path is connected to a central outdoor atrium, giving residents the opportunity to be outdoors on their own. The entire facility will be steel-framed and have an emergency generator system.

The facility, designed by triARC Design, provides a fresh take on traditional senior living, focusing on the current generation of design-savvy seniors who appreciate a more contemporary aesthetic.

"The design story revolves around how different people approach the concept of “retreat, ” said Jon Hanna, triARC Design senior project manager. "Each space gives a different way to retreat; to wander, to contemplate, to be vibrant, and to decompress."

The Retreat at Alameda will be managed by Paradigm Senior Living, a national provider of management services to the senior housing industry. Paradigm has assisted in operation of more than seventy senior living communities, totalling 8,500+ living units, valued at more than $1B.

The project is located in northern Phoenix, at 1920 W. Alameda Rd., an area currently undergoing rapid residential development. Construction on the project is scheduled to commence in September with completion in March 2021.

Astoria Healthcare Properties is owned by Nueterra Capital, a private equity company investing in healthcare and technology companies.