Joint venture equity arranged by HFF for industrial development near Kansas City, Kansas
DALLAS, TX – April 12, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that its Dallas industrial team has arranged joint venture equity for the development of a to-be-built, 630,000-square-foot, Class A, spec distribution center in the Kansas City suburb of Lenexa, Kansas. The newly formed venture also acquired an adjacent land parcel for future development.
HFF worked on behalf of the developer, Block Real Estate Services, LLC, to arrange the joint venture partnership with an institutional partner.
The property is located between Olathe and Kansas City in the South Johnson County submarket. The property has access to Interstates 35 and 435 and State Road 10, each being approximately one to two miles from the subject property. The one-story building will be completed in 2017.
The HFF equity placement team representing the developer was led by executive managing director Jody Thornton and managing director Adam Herrin.
“Block Real Estate Services is proud to leverage its local and deep knowledge as well as its client and brokerage relationships to ensure a truly successful project in the already-booming Kansas City industrial market,” said Kenneth G. Block, managing principal of Block Real Estate Services LLC.
According to HFF, “Continuing the trend of the past decade, the South Johnson County industrial submarket has remained the most stable and now has potentially become the most important industrial submarket in the region.”
About Block Real Estate Services, LLC
Block Real Estate Services, LLC (BRES) is a full-service commercial real estate company managing over 37.85 million square feet of retail, office, industrial property and nearly 7,100 units of multifamily property for equity partnerships and third party owners. BRES’s portfolio of services continues its role as the most comprehensive commercial real estate firm in Kansas City by providing and specializing in: real estate brokerage services, tenant representation, investment services, asset and property management, economic incentives consultation, financial services, construction and development services and the Block Funds. Learn more at www.blockllc.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.