KANSAS CITY- Lee & Associates, an Atlanta-based commercial real estate firm, announced late last week that they had closed a 140-acre land sale located at the northeast corner of Blue Ridge and Prospect Avenue in Grandview, a suburb just outside of Kansas City and near the CenterPoint-KCS Intermodal Center, a 1,340-acre logistics center opened in 2008. Lee & Associates did not disclose the transaction price.
Company officials say the land was a challenging sale. According to Todd Weltmer, a director at Lee & Associates' Kansas City office, says the parcel sat on the market for more than two years with two other leading, national brokerage firms. “After two years of listing the property with no prospective buyers, I was approached by a frustrated owner who wanted to put a 'fresh set of eyes' on the listing. I embraced the challenge, and produced multiple offers within weeks. The lender was able to choose the highest offer from an all-cash buyer.” The firm closed the transaction within just 60 days of listing, he adds.
Weltmer, represented the seller, Trustco, LLC. Harvest Nations, the buyer, was not represented.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
