Newmark Zimmer and Scannell Properties Execute 215,730 SF Lease at Lee’s Summit Commerce Center
Kansas City, MO (April 7, 2022) — Newmark Zimmer and Scannell Properties are pleased to announce the first completed lease at Lee’s Summit Commerce Center. The lease, totaling 215,730 square feet, will take half of building A, a 430,000 square foot cross-dock facility, planned for completion later this year.
Lee’s Summit Commerce Center is the first bulk Class A speculative industrial development in Lee’s Summit, Missouri with modern industrial amenities such as a cross-dock operation and 32- foot to 36-foot clear heights. The three building, 781,000 square foot project is located on 75 acres just west of NE Douglas Street and NE Tudor Road. All three buildings are currently under construction and are expected for completion first quarter 2023.
“Lee’s Summit has always been a very desirable municipality and submarket for industrial users in Missouri,” said Scott Bluhm, Managing Director with Newmark Zimmer. “For the last decade or two, there has been a lack of Class A space accommodating middle to large sized users. Executing a substantial lease prior to the construction completion, emphasizes the need for this type of product in this part of the market.”
Developed by Scannell Properties, Lee’s Summit Commerce Center can accommodate tenants from 30,000 to 200,000 plus square feet. Building A is a 430,000 square foot cross-dock, building B is a 238,000 square foot single-load, and building C is a 113,000 square foot single-load. Both building B and C are planned to be completed early first quarter of 2023. Newmark Zimmer represented the landlord and CBRE represented the tenant in the lease transaction.
About Newmark Zimmer
Newmark Zimmer 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 Zimmer manages more than 13.5 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. For further information, visit nmrkzimmer.com.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.9 billion for the year ending December 31, 2021. Newmark’s company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on ForwardLooking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
