Zona Rosa sold to Florida company for $63.3 million in deal owners call a revitalization opportunity

KANSAS CITY, Mo — KSHB 41 reporter Marlon Martinez covers Platte and Clay counties in Missouri. Share your story idea with Marlon.

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Zona Rosa, one of the Northland's most recognizable shopping destinations, has a new owner.

Florida-based CTO Realty Growth announced this week that it acquired the shopping center for $63.3 million. The property is currently 67 percent leased.

In announcing the deal, CTO called Zona Rosa a "long-term, multi-phase revitalization opportunity." The company says there is room to bring in new tenants and rework about 100,000 square feet of underused space.

Steve Silvestri

For Team Cocktail owner Lindsey Fliehs, who has operated her business at Zona Rosa for just over a year, the sale raises questions about what comes next — and whether new ownership can bring in more businesses and customers.

Steve Silvestri

"Obviously foot traffic and people coming is the way that we make money, right? The more people in the door, the more money we're going to make, so it's extremely important," Fliehs said.

Steve Silvestri

Fliehs says she has watched businesses leave the shopping center while new ones move in during her time there. She says what fills those storefronts matters — and she is hopeful the sale signals a turning point.

Steve Silvestri

"Honestly, I feel like it's a great opportunity… I was looking forward to it, and we actually re-signed our lease knowing that this was going to happen," Fliehs said.

What the revitalization will look like — and when shoppers could start seeing changes — remains unclear. CTO Realty Growth has not yet responded to a request for comment.
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