Kmart, Kohl’s and Old Navy stores in Lawrence soon will have a new landlord.

The owner of Pine Ridge Plaza in south Lawrence announced Monday a $13.85 million deal to sell the shopping center.

The Lawrence property is among 15 under contract for sale by Malan Realty Investors Inc., a Michigan-based real estate investment trust that has plans to liquidate its entire 57-property portfolio.

The 15 announced sales will generate $94 million in revenue to pay off $57.9 million in mortgages and provide money for shareholders, the trust said.

Malan declined to identify the buyer of Pine Ridge Plaza, which is located just southeast of 31st and Iowa streets. The deal is scheduled to close July 15, and all leases at the center will remain in effect.

Malan has been making plans to sell properties for months, and in December had agreed to sell its “non-core” sites. Lawrence wasn’t on that list, but Kmart Corp.’s bankruptcy filing in February convinced Malan’s board of directors, in March, to pursue selling everything.

Kmart leases account for 25 percent of Malan’s rental revenues, and the troubled retailer occupies nearly half of the trust’s 5.5 million square feet of gross leasable area.

Yet even with Kmart’s struggles, the Lawrence store remains open at Pine Ridge Plaza and the plaza area continues to thrive with a recent expansion and addition of new shops including Jason’s Deli, Bath & Body Works and Hurst Fine Diamonds, said Rick Tannenbaum, managing director of Cohen Financial Inc. in Chicago, which is advising Malan on its liquidation plan. Famous Footwear and International House of Pancakes also have stores at the site.

“It’s a good center, and it continues to do well,” Tannenbaum said. “There’s some existing vacancy in the center, and we’re continuing to aggressively lease it up. If the purchasers inherit some vacancy, they’ll continue to do the same.”

Whoever buys the property will take over extended leases for the center’s anchors: Kmart’s ends in 2018, while the Kohl’s lease extends into 2019. Old Navy’s lease runs into 2006.

Malan has owned Pine Ridge Plaza since before 1994, when the investment group went public. The trust’s current liquidation plan is designed to “maximize shareholder value,” said Fred Nachman, a Malan spokesman.

Malan also owns the home of Hollywood Theaters’ Southwind 12, southwest of 34th and Iowa streets. That property likely will be marketed for sale later this year, Tannenbaum said, pending approval of a liquidation plan later this summer by Malan shareholders.