Sealy & Company, a fully-integrated commercial real estate investment and operating company has purchased Lone Elm Commerce Center, a Class A warehouse located in Olathe, Kan.
This sale was completed by Mark C. Long, CRE, SIOR, CCIM, LEED AP, president and chief executive officer and John Hassler, SIOR, senior managing director with Newmark Zimmer.
The 210,500-SF industrial facility, situated on twelve acres, features an aesthetically enhanced office storefront, surrounding windows, expansive parking, loading docks, vast paved outdoor storage and a high-efficiency rooftop. Additionally, the building can be configured to accommodate tenants in need of smaller spaces of 50,000 - 100,000 SF.
"The industrial real estate market in Kansas City is getting national attention due to a strong group of national developers headquartered here and the existing supply chain infrastructure including rail, highway and intermodal centers,” said Long.
Currently, Kansas City is one the most active industrial markets in the U.S., ranking ninth in total net absorption and 12th in both total deliveries and square feet under construction, while ranking 17th in overall market size.
“We are delighted to be able to work with Sealy & Company, they have a clear understanding of the market dynamics and in recent years have become among the most active buyers in the region,” Long said.
Currently, the building is 50% leased and Newmark Zimmer will be leasing the remainder of the vacant space. The property was developed by Heise-Meyer, LLC in partnership with Odyssey Real Estate Capital.