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Tuesday, November 5, 2019
Block buys Lenexa Logistics Centre building from its joint venture


By: Miranda Davis

Source: https://www.bizjournals.com/kansascity/news/2019/11/05/block-real-estate-services-lenexa-logistics-centre.html?ana=e_ae_set1&j=90179531&t=Afternoon&mkt_tok=eyJpIjoiTm1KbU5tVmtNMlU1WVRSbCIsInQiOiJMcWJsRkxsUmhYUis0cjBaazZYaHBpeG43M2dSTWJZeVJxVDdrNDJVV3dHUEdNOG9BMmg2ZjRUR053Q2Vxa2htRGJtVERtUkdKSGJSVjJkSWZpc3lTNHNack9YT1FrS3lkclRZWVd6NUcydlhYazk4ZXM1RTBpdVdHTnpSbDZtdyJ9

Block Real Estate Services, LLC has bought out its development partner and now owns the 635,000-square-foot Lenexa Logistics Centre North Building 1 in its entirety.

The deal closed on Thursday, and the price was not disclosed.

The firm will own the building long term as an asset in BRES' real estate investment arm, Block Funds.

Brian Beggs, a principal and director of acquisitions for Block Funds, told the Kansas City Business Journal that a joint venture between BRES and Nationwide Insurance developed the building in 2017. It won a Capstone award at the time.

The building is 80% leased with two tenants. BRES is looking for a tenant to fill a 125,000-square-foot opening.

Read the rest of the article at: https://www.bizjournals.com/kansascity/news/2019/11/05/block-real-estate-services-lenexa-logistics-centre.html?ana=e_ae_set1&j=90179531&t=Afternoon&mkt_tok=eyJpIjoiTm1KbU5tVmtNMlU1WVRSbCIsInQiOiJMcWJsRkxsUmhYUis0cjBaazZYaHBpeG43M2dSTWJZeVJxVDdrNDJVV3dHUEdNOG9BMmg2ZjRUR053Q2Vxa2htRGJtVERtUkdKSGJSVjJkSWZpc3lTNHNack9YT1FrS3lkclRZWVd6NUcydlhYazk4ZXM1RTBpdVdHTnpSbDZtdyJ9

Tags:    Kenneth G. Block   Brian Beggs   Kansas City Commercial Real Estate   Block Funds   Block Real Estate Services   Industrial space for lease   commercial developers   BRES