LAWRENCE, KS—Angroup led by Lane4 Property Group, based in Kansas City, Mo., has acquired the I-70 Business Center here for an undisclosed amount.
The 95,000 sq. ft. center was originally built in 1993 as Tanger Outlet Center, but was converted into a corporate office center. Tenants at the 90-percent occupied property include Protection One and Rezolve Group. LANE4 will serve as the center’s property manager, whileresponsibilities for the existing vacancies will remain with Ken Schmanke with KS Commercial Real Estate Services Inc
Jeff Berg, senior vice president and principal at Lane4, said the property is the first office/flex space that the company has acquired. The firm plans to create two outparcels on the 12-acre site that will be ideal for restaurants, a convenience store or other users that benefit from interstate visibility and access. “We feel that the center is an excellent addition to our portfolio and fits LANE4’s strategy of purchasing hard to duplicate, prime real estate in established communities,” Berg said in a statement.