Kansas City, MO (August 14, 2023) — Newmark Zimmer has been selected to assist Suburban Land Reserve, Inc. (“SLR”) in the disposition of approximately 1,800 acres in Lee’s Summit, Missouri, one of the fastest growing cities in the Kansas City Metropolitan area and the state of Missouri. The project accounts for approximately 16% of the undeveloped land in Lee’s Summit. The property is master-planned for multiple uses including single-family homes, multifamily, office, retail and light industrial development.
Available for the first time, the opportunity will allow for the continued growth of Lee’s Summit which has seen its population increase over 45% since 2000.
“We are very excited about the opportunity to work closely with SLR on this very important project.” said Michael VanBuskirk, Vice Chairman, Principal, with Newmark Zimmer. “As a longtime Lee’s Summit resident, I know the importance that the carefully planned development of this property will be to the continued economic growth and vitality of our great community.” The project is divided into 1,000 +/- acres located in south Lee’s Summit along Pryor Road and 800 +/- acres in north Lee’s Summit along I-470. While the combined offering is one of the largest active land listings in the Midwest, the property will be offered in parcels from 20 to 300-plus acres depending upon use.
“We look forward to continuing to work with SLR and their team to bring about the thoughtful and strategic development of these very important land assets,” said Lee’s Summit Mayor Bill Baird. The Newmark Zimmer Midwest Capital Markets team composed of Michael VanBuskirk, Chris Robertson and Raegen Root will represent SLR.
Other Kansas City based team members assisting SLR with the project include Curt Peterson with the Polsinelli law firm and Phil Gibbs, Sr. with Continental Consulting Engineers.
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, and owner’s representative services for public and private development projects. 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 nearly 20 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
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. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 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 Forward-Looking 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.
