Community Builders of Kansas City (CBKC), the area’s largest urban core developer, announced today it will become the owner/operator of the Sun Fresh on Blue Parkway, one of the few full-service supermarkets east of Prospect Ave.
The transaction will be effective June 30, 2020, following the retirement of the current operator. CBKC, a 501(c)3 nonprofit corporation formed in 1991, established Blue Parkway Grocers, LLC, as a for-profit entity to operate the store. Terms of the transaction were not disclosed.
“This is another opportunity for CBKC to do what is right for our community in the urban core,” said Emmet Pierson, Jr., president and CEO of CBKC.
“Make no mistake, this is a big commitment for the organization but it is the right one to keep our community’s money in the community, to give them a best-in-class grocery and shopping experience and to ensure the continued performance of this grocery-anchored retail center that CBKC established here on Blue Parkway in 2005.”
The retail center, at more than 90 percent leased, is part of a larger real estate and asset management portfolio owned by CBKC that consists of 700 units of rental residential properties and 200,000 SF of commercial and retail space. The center is adjacent to a 69,000-SF office building where CBKC is headquartered, which is 100 percent leased.
CBKC is building a 64-unit, market rate apartment building, The Rochester on Blue Parkway, on the campus, part of more than $30 million in new development in the organization’s project pipeline.
Pierson noted that the Sun Fresh on Blue Parkway is more than just a real estate asset. The grocery store is about personal needs and experience, for both employees and customers. Addressing those starts with store leadership.
“We are pleased to welcome John King as the store director. King has had a long career as a grocery industry professional, including nearly twenty years as a Price Chopper/Hen House store director. We are excited to have his passion for quality in both the food product and customer experience as part of this store’s refresh,” Pierson said.
As is routine with similar operator transitions, all of the store’s employees will reapply for positions with eligibility subject to the usual hiring requirements. Downsizing of staff is not anticipated.
“We are excited and challenged by this new venture. While we never expected CBKC would become a grocery operator, we have found that doing what is needed for our community frequently exceeds expectations.” Pierson said.