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Town Center Plaza & Town Center Crossing Acquisitions LEAWOOD, KS
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Executive Summary 2 Federal Realty has acquired Town Center Plaza and Town Center Crossing, located in Leawood, Kansas, a vibrant and affluent suburb of Kansas City in Johnson County, KS. The two premier open-air retail centers total over 550,000 square feet and feature top-performing national brands. The centers draw almost 8 million visits annually and together are one of the top ranked retail destinations in Kansas City on Placer.ai. 1 Federal is excited to expand into Johnson County, a market characterized by affluent demographics, strong job and population growth, excellent public schools, and unmet retail demand – creating a compelling opportunity for long-term value creation. Kansas City’s Dominant Retail Destination • 7.9 million visits annually to the two centers. The new acquisitions rank in Federal’s top ~10th percentile of properties by annual foot traffic.1 • Proven hub for market entry: Aritzia, Yeti, Tecovas and Arhaus demonstrate the two centers’ value to retailers without a footprint in KC. • In-place rents estimated to be well below market, providing for value creation potential over time. Centrally Located in Thriving Commercial Hub • Garmin, Euronet Worldwide, Black & Veatch and AMC Entertainment, have HQ offices in Johnson County, KS. • In 2026 FiServ, a Fortune 500 fintech provider, plans to open a strategic hub in the neighboring Aspiria Campus, bringing approx. 2,000 new jobs to Town Center Plaza & Crossing’s backyard. The investment will bring up to $4B in payroll and generate $6.5B in total economic impact over the next ten years.2 • Convenient proximity to I-435, Kansas City’s beltway, ensures easy access to all KC has to offer. Best-in-Class Demographics 3-MILE RADIUS3 DAYTIME POPULATION AVERAGE HHI COLLEGE EDUCATED TOWN CENTER CROSSING 130,000 $160,0004 69% TOWN CENTER PLAZA 135,000 $163,0004 70% FRT PORTFOLIO WTD. AVG. 195,000 $161,000 55% Source: (1) Foot traffic estimate for 2024. Data provided by Placer Labs, Inc. (2) “Governor Kelly Announces Fiserv to Open Strategic Fintech Hub in Kansas; Create 2,000 Jobs.” KansasCommerce.Gov. April 21, 2025. (3) Esri Demographics (2024). (4) Using the Bureau of Economic Analysis’ 2023 regional price parity values for Kansas City, the cost of living-adjusted average household income values are approx. $172,000 and $174,000 for Town Center Crossing and Town Center Plaza, respectively . Regional Price Parity values use inflation and regional price data to estimate cost of living vs. the national avg. 2
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Town Center Plaza & Crossing 3 Super-Regional Assets With Highly Productive Tenant Mix 550k SF, 59 acres 7.9M visits in 20241 Highly productive tenants Go-to choice for retailers seeking market entry Regional trade area (150 sq mi and 600,000 consumers) 2 Premier Location In Affluent, Highly Desirable Area 3-mile Avg Net Worth: $2.25M – 80% above US average 3 3-mile Avg HHI: $160,000+ 3 $1.8M median home price in 66211 zip code4 * Indicates NAP tenant Source: (1) Foot traffic estimate for 2024. Data provided by Placer Labs, Inc. (2) Mobile trade area corresponding to 2024’s foot traffic and visitors. Data provided by Placer Labs, Inc. (3) Esri Demographics (2024). (4) Eastdil Secured.
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Town Center Plaza PREMIER REGIONAL SHOPPING DESTINATION IN THE MARKET Total GLA 385,000 SF Acres 44 Leased/Occupied 92% Price $192M 4 Featured Tenants By the numbers Annual Foot Traffic 5.0 million visits Average Dwell Time 61 min Trade Area Population 622,000 people 3-Mile Radius Daytime Population 135,000 Average Household Income $163,000 Bachelor’s Degree or Higher 70% NAP Source: Foot traffic and demographic data provided by Placer Labs, Inc. and Esri (2024).
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Town Center Crossing DOMINANT GROCERY -ANCHORED LIFESTYLE DESTINATION IN THE MARKET By the numbers Total GLA 165,000 SF Acres 15 Leased/Occupied 94% Price $97M 5 Annual Foot Traffic 2.9 million visits Average Dwell Time 40 min Trade Area Population 613,000 people 3-Mile Radius Daytime Population 130,000 Average Household Income $160,000 Bachelor’s Degree or Higher 69% Featured Tenants Source: Foot traffic and demographic data provided by Placer Labs, Inc. and Esri (2024).
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Location Overview 6 Prime access to key business hubs like the neighboring Aspiria Office Campus and affluent local demographics. The center also benefits from a regional trade area covering more than 150 square miles and 600,000 consumers. 1 Leawood and Surrounding Suburbs Population Growth – 1.1% compound annual growth rate since 2014, almost double the national average. 2 High Educational Attainment – 76% of residents aged 25+ have a bachelor’s degree or higher . 2 Top-rated public schools – Blue Valley School District consistently ranked among Kansas' best . 3 Recognized for high quality of life, low crime, and desirable suburban environment. 5,100 Residential Units 3,300 Hotel Rooms 16M S.F. Office 3.5M S.F. Retail Centrally located in a vibrant mixed-use corridor WITHIN 3 MILES Source: Eastdil Secured. Source: (1) Mobile trade area corresponding to 2024’s foot traffic and visitors. Data provided by Placer Labs, Inc. (2) Esri Demographics (2024). 2014-2024 population CAGR for Johnson County, KS (3) Niche (2025 High School Ratings). Town Center Plaza & Crossing 100,000 -SF venue hosting 300+ events per year. Overland Park Convention Center | 5-MIN DRIVE Seaboard HQ | 15-MIN DRIVE AMC Entertainment HQ | 1-MIN DRIVE 1.6M SF Innovation Campus Oracle -Cerner Campus | 15-MIN DRIVE Major transportation, manufacturing, and healthcare hub. Home to regional HQs for Russell Stover, H&R Block, and Hallmark, among others. Downtown Kansas City | 25-MIN DRIVE 3.8M SF of Class -A office space (2 nd largest office campus in the US). Home to regional HQ offices for Black & Veatch, T-Mobile, FiServ and more. Aspiria Campus | <5-MIN DRIVE 1.2M SF North American headquarters Garmin US HQ | 20-MIN DRIVE