New Mill Capital acquires industrial property in Kansas City
JLL completes sale of 574,500-square-foot industrial site
Kansas City, March 31, 2020 – JLL announces the successful sale of Procter & Gamble’s multiple building, 574,000-square-foot industrial/ manufacturing site in Kansas City. New Mill Capital, a national firm which specializes in the disposition of excess equipment and real estate assets across a variety of manufacturing verticals, acquired the property. As part of the transaction, Procter & Gamble entered into a lease agreement for the property for at least the remainder of 2020.
JLL Managing Regional Director Kevin Wilkerson and Executive Vice President Phil Algrim represented the seller in the negotiation.
“Kansas City is one of the top logistics and rail hubs in the US, with approximately 85% of the US population in reach within a two-day period,” said Algrim. “Our central U.S. location, superior non-congested rail/ interstate infrastructure and quality labor pool are key components to our thriving and dynamic industrial real estate market.”
The plant is centrally located within the metro near the intersection of 18th Expressway and the I-70 interchange and provides direct rail service with access to BNSF, Kansas City Southern and Union Pacific railroads.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.