Kansas City, MO – A joint venture between Prism Real Estate Services, LLC and Ameritas Life Insurance Corp. has acquired the Lenexa Industrial Park portfolio in Lenexa, Kansas. This industrial and flex portfolio consists of 17 buildings containing approximately 589,391 square feet located at the interchange of I-35 and I-435. The purchasing entity was represented by the Newmark Grubb Zimmer (NGZ) capital markets team of Michael VanBuskirk, SIOR, CCIM, CRE, David Zimmer, SIOR, and Chris Robertson. Newmark Grubb Zimmer will retain leasing and management responsibilities continuing their longstanding history with the properties which were originally developed by Hugh J. Zimmer.
“The entire NGZ team is excited to expand our long-standing relationship with Prism and Ameritas as well as continue our involvement with the leasing and management of this portfolio,” said Michael L. VanBuskirk, SIOR, CCIM, CRE, Executive Managing Director – Principal.
Starting in 1965, Hugh Zimmer and partners started development of what became known as Lenexa Industrial Park with the selection of a location for a major Ford distribution center. Lenexa Industrial Park was the first planned industrial park in the city of Lenexa and the second to open in then fledgling industrial market of Johnson County. Development of the park continued through the sale of improved industrial sites as well as the construction of industrial buildings on both a build-to-suit and a speculative building basis.
“We look forward to investing our funds, time, and attention to detail in this portfolio in an effort to continue to provide exceptional space for our tenants and prospective tenants,” said Jeremy Antes, Principal with Prism Real Estate Services, LLC. “We are excited to work with the Newmark Grubb Zimmer team who know more about this portfolio than anyone else and are top notch professionals.”
Joe Platt and Alex Hilton of Grandbridge Real Estate Capital will arrange debt placement on behalf of the buyer.
About Prism Real Estate Services, LLC
Prism Real Estate Services, LLC (PRES) was founded in 2012 to provide first class management, maintenance, and accounting services for our growing multifamily investment portfolio. Since then, our portfolio has grown to include office, residential, retail and industrial properties. PRES’ guiding principles insure integrity, exceptional customer experiences, and steadfast attention to detail at every level, as a way of normal business practice.
Founded in 1887, Ameritas Life Insurance Corp. and its affiliated companies provide a wide range of insurance and financial services to customers throughout the United States, including life insurance; annuities; group dental, vision, and hearing care insurance; individual disability income insurance; retirement plans; investments and public finance. Securities and investment advisory services are offered through affiliate Ameritas Investment Corp., member FINRA/SIPC. For more information, visit www.ameritas.com.
About Newmark Grubb Zimmer
Newmark Grubb Zimmer (www.NGZimmer.com) is a full-service commercial real estate company providing a range of services including sales and leasing, investment sales, property and facilities management, global corporate services, owner’s representative services for public and private development projects, and public-sector consulting. Its staff boasts an array of experience in design, construction, valuation, finance and legal matters.
Regularly recognized as one of the top brokerage firms in the region, Newmark Grubb Zimmer manages more than 7.8 million square feet of office, medical, industrial and retail property, and serves as corporate real estate advisor for an assortment of local, regional, national and international companies.
About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark"), is one of the world's leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol "NMRK", is a publicly traded subsidiary of BGC Partners, Inc. ("BGC"), a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP". BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol "BGCA."