Kansas City, MO (October 2018) – Newmark Grubb Zimmer brokers sale of the Uptown Shoppes retail center in Midtown, paving way for the Uptown Lofts, a $55 million-dollar mixed-use apartment complex.
The Uptown Lofts will feature 223 apartment units and upwards of 50,000 sf of retail space. The current shopping center located at Valentine Road and Broadway Boulevard is 40% occupied. The remaining vacant shops are to be filled based on the desires and needs of the neighborhood.
The Uptown Lofts will provide a significant boost to the community with the enhancement to Broadway Boulevard and by providing affordable rents to those living and working in the surrounding area. The development will also serve as an asset to the Uptown Theater located across the street, creating more than 300 additional controlled parking spaces for the venue.
Joyce Murray, Managing Director, Principal of Newmark Grubb Zimmer represented the owner in the sale transaction of shopping center. The project is scheduled to break ground late spring 2019.
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 10.5 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.