A group of private investors, led by LANE4 Property Group, recently closed an off-market acquisition of three Kansas City-area shopping centers totaling 421,546 square feet. Previously owned by MD Management, the portfolio includes Metro North Square in Kansas City, MO, Oak Barry Center in Kansas City, MO, and West Park Shopping Center in Overland Park, KS.
LANE4 spearheaded the transaction and structured a recapitalization that allowed some of MD Management’s generational investors to remain in the partnership while other owners were able to exit.
“Since the time that each of these shopping centers was developed, they have been owned by members of the Morgan and Dreiseszun families. We take seriously the opportunity to continue the legacy of these properties,” said Michael Berenbom, LANE4 Managing Partner. “MD’s management and institutional knowledge of the real estate combined with fresh capital and LANE4’s retail leasing experience is hopefully the right recipe for the next chapter.”
In addition to these properties, the storied history of MD Management includes the development of Metcalf South Mall, Camelot Court, and dozens of other regional malls and commercial properties spread across the United States.
“We’re excited to strengthen LANE4’s presence in the Kansas City Northland, a submarket that continues to outpace regional growth,” said Weston Buckley, LANE4 Partner.
Over 80% of the portfolio is located along Barry Road & US-169, one of the Northland’s strongest retail corridors with over 1.4 million square feet of retail and 97% occupancy as of Q3 2025 (Credit: CoStar). According to U.S. Census data, Platte and Clay counites have experienced growth rates since 2019 that more than double those of any other core county in the metro. From 2019-2024, Platte County reported a 10% population growth rate while Clay County reported an 8% increase.
“My family has been involved with these properties for so long. I am honored to carry on the legacy and partner with the real estate professionals at LANE4 to continue this exciting real estate journey,” said Erika Feingold, MD Management Vice President.
Metro North Square | 188,270 SF | 88% occupied
509 NW Barry Rd, Kansas City, Missouri
Prominently positioned at Barry Road & US-169, the center offers a rare 16,000 square foot junior box. Located immediately south of the Metro North Mall redevelopment, and adjacent to Twin Creeks, the corridor continues to see active reinvestment and strong momentum. Key tenants include Children’s Mercy, Power Play, The Salvation Army, and Spectrum Station.
Oak Barry Center | 136,892 SF | 99% occupied
500 NE Barry Rd, Kansas City, Missouri
Located down the road from Metro North Square at N Oak Trfky and Barry Rd, this is a high-performing grocery-anchored center; key co-tenants include Price Chopper, Planet Fitness and Dollar Tree with a host of everyday service providers. Leasing opportunities include a 1.03-acre pad site and 1,250 square foot end cap in the Smoothie King outparcel building. At Home is located just south of the Price Chopper under separate ownership.
West Park Shopping Center | 96,384 SF | 98% occupied
9700 W 87th St, Overland Park, KS
West Park is situated at the intersection of 87th St and Farley in Overland Park, Kansas. The center features a diverse tenant mix and benefits from a retail corridor marked by high occupancy rates and limited new supply. Anchor tenants include Johnson County Community College, Catholic Charities and Save-a-Lot.
LANE4 and MD Management share a longstanding relationship that dates to LANE4’s 2015 acquisition of the former Metcalf South Mall at 95th & Metcalf in Overland Park, Kansas. The former mall site was successfully redeveloped into the corporate headquarters for Ryan Transportation and an infill retail site anchored by Lowe’s and new entertainment concept, Tap Ins at the Greenhouse (currently under construction).
Andrew Sandburg of LANE4 will provide leasing across the portfolio, while MD Management continues as property manager.
