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CTO Realty Growth Expands Into Kansas City Market With Acquisition of Zona Rosa for $63.3 Million

CTOPINE
  • CTO Realty Growth, Inc. acquired Zona Rosa, a 768,000 square foot mixed-use center in Kansas City, Missouri, for $63.3 million ($82 per square foot).
  • The acquisition was made at a price significantly below replacement cost.
  • 2026 year-to-date investments total $334 million when including structured investments.
  • Year-to-date property acquisition volume exceeds $200 million at a blended entry cash cap rate of 8.2%.
  • Structured investments activity totals $334 million at a blended initial cash yield of 9.5%.
  • The property is currently 67% leased with anchors including Dick's Sporting Goods, Barnes & Noble, Old Navy, Burlington, and DSW.
  • The 64-acre site includes 10 acres of entitled development land and approximately 100,000 square feet of underutilized space for future repositioning.
  • The five-mile trade area has a population of approximately 100,000 people with average household income levels of $124,000.
  • Zona Rosa attracts approximately 5.5 million visits annually and is located six miles from the Kansas City International Airport.
  • The acquisition represents a long-term, multi-phase revitalization opportunity with substantial embedded upside via leasing.