A Kansas City-based investor group led by David M. Block of Block & Company, Inc., Realtors acquired Summit Fair Lifestyle Center in Lee’s Summit, Missouri, in a $40 million transaction that reshaped the local retail landscape.
The 510,000‑square‑foot open‑air center at 840 NW Blue Parkway was 91% occupied at the time of sale.
Red Summit Fair sold the property to Summit Fair Investors 2025.
The deal marked a transition from out‑of‑state ownership to a locally rooted syndicate with long‑term investment plans. Block Asset Management now manages the property as part of its third‑party portfolio. Ownership plans to reinvest in the center while positioning it as a long‑term community and regional destination.
Summit Fair serves as a major retail hub for southern Jackson County. It sits at the intersection of Interstate 470 and Highway 50, a key gateway into Lee’s Summit’s commercial core.
The sale earned a 2025 CoStar Impact Award, as judged by real estate professionals familiar with the market.
The property features a mix of national retailers, regional operators and local concepts. Major tenants include Dick’s Sporting Goods, H&M, Lululemon, Chick‑fil‑A, Victoria’s Secret, White House Black Market and Orangetheory Fitness. Recent and upcoming additions include Ancho & Agave Restaurant, which opened in December 2025, Sephora, which opened in February 2026 and LoveSac.
Looking ahead, ownership is advancing plans for new pad sites and additional retail buildings. The development pipeline supports long‑term growth along the Interstate 470 corridor. With strong visitation, high occupancy and a deep tenant lineup, Summit Fair is positioned to remain a key retail and community destination in the Kansas City region.
About the project: The transaction marked Red Development’s complete exit from the Kansas City retail market. The buyer group, led by David M. Block of Block & Co., repositioned Summit Fair Lifestyle Center as a long-term, generational asset. The center ranks among Missouri’s top-performing retail destinations, attracting over 4.3 million annual visits and featuring major tenants such as Dick’s Sporting Goods, Lululemon, and Sephora, signaling strong leasing momentum and future growth potential.
What the judges said: "As a retail broker, I find the Summit Fair acquisition highly impactful due to its scale, execution, and implications for long-term ownership in the Lee’s Summit market,” said Sheryl Vickers, president of Select Sites. “This change in ownership strengthens market confidence, supports continued leasing momentum, and positions the asset for reinvestment and long-term stability.”
They made it happen: Ben Wineman, Joe Girardi and Olivia Palmer of Mid-America Real Estate represented the seller, Phoenix-based RED Development, and Big Shopping Centers USA based in El Segundo, California. Zachary Albrecht and David Block of Block & Co. represented the buyer.
This article was updated on March 26 to clarify the property ownership.