Kansas City, MO (January 10, 2022) — Newmark Zimmer is pleased to announce the successful disposition of 4001 N Norfleet Road in Kansas City, Missouri. Amongst the largest distribution facilities in the Kansas City region, the 702,000 square foot property is fully leased to Musician’s Friend and sits on a 68-acre site adjacent to 210 Highway, 291 Highway and Interstate 435.
“The Musician’s Friend building offered investors an opportunity to acquire a highly strategic, Class-A distribution facility which serves a mission critical component within the tenant’s ecommerce supply chain,” said John F. Hassler, Senior Managing Director with Newmark Zimmer. Mark Long reports “The amount of interest that this property generated from a broad base of diverse buyers confirms the increasing demand for industrial product in the Heartland Region. Our expectation is that this demand will only increase in the coming months. “
A collaborative effort between Newmark’s Heartland and West Coast Region industrial capital markets teams, the assignment was led by Mark Long, CRE, SIOR, CCIM, LEED AP, John Hassler, SIOR, Jim Linn, SIOR and Bret Hardy. The disposition process attracted interest from a broad stable of investors across the United States and beyond.
The building was constructed as a build-to-suit for Musician’s Friend in 2007 and at the time, the distribution center was one of the largest ever built in the Kansas City-area industrial market.
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.
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 $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 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.