Kansas Commerce Center

Jones Lang LaSalle (“JLL”), as an exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Kansas Commerce Center portfolio, a collection of six (6) shallow bay industrial assets located in a dense, high-image business park within the Kansas City MSA (the “Portfolio” or the “Offering”). Totaling 573,251 square feet, the Portfolio offers multi-tenant industrial product at scale, with average building and suite sizes of 95,542 and 35,828 square feet, respectively. Currently boasting 90% occupancy and 4.0 years WALT across the Portfolio, future ownership will take advantage of consistent yield enhancement opportunities through the immediate lease up of in-place vacancies and a staggered lease expiration schedule complemented by a 10.3% mark-to-market opportunity across the Portfolio. The Kansas City Commerce Center provides investors with a diversified tenant roster occupying functional industrial product in the heart of Johnson County, offered at a significant discount to today’s replacement costs.

Positioned directly off of Interstate 435 with nearby access to the I-35/I-435 interchange, the Portfolio is located in a high visibility pocket of Lenexa, within the Johnson County industrial submarket. These high performing properties provide tenants with ideal connectivity to the Kansas City metro and its dense labor pools, as well as the surrounding Midwestern markets. Johnson County’s shallow bay industrial fundamentals have outperformed the overall Kansas City industrial market and are highlighted by sub-5% vacancy and six (6) consecutive years of positive net absorption. There is zero competitive like-kind industrial supply under construction in the submarket, this lack of currently existing available space combined with no new near-term supply points to a high likelihood of sustained rent growth in the coming years.