Newmark Grubb Zimmer closed the successful disposition of a seven-building industrial and flex portfolio near Front Street in Kansas City, Missouri’s Executive Park.
Mark Long, President and Chief Executive Officer, and John Hassler, Managing Director, with Newmark Grubb Zimmer represented the seller, Odyssey Real Estate Capital in the transaction.
Totaling 210,751 square feet, the portfolio includes 17 tenants and was 89 percent occupied at the time of sale, which represented a 28 percent rise in occupancy since Odyssey’s acquisition in 2017. NGZ worked on behalf of Odyssey in leasing and property management capacities.
The portfolio is strategically located near I-435 and minutes from I-29 and I-70. The Executive Park submarket is exceptionally well-positioned by prominent industrial, manufacturing and distribution facilities.
The buyer did not have representation and is a local investment group located in the Kansas City area.