Gantry Arranges $32 Million Loan For Fully Leased Lenexa Logistics Centre North In Kansas City
10901 Mill Creek Road & 10941 Mill Creek Road
$32,000,000
$28/SF
Building Size
565,170 SF
Asset Type
Industrial
Closing
Jan 22, 2025
AI
The property involved in this transaction is an industrial asset located at 10901-10941 Mill Creek Road in Lenexa, KS. It encompasses a total area of 565,170 square feet. The transaction was marked by the arrangement of a loan amounting to $32,000,000, specifically constructed to retire construction financing for the fully leased Lenexa Logistics Centre North, which was completed in 2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32,000,000
- Loan Type: Construction
- Market: Lenexa, KS
- Asset Size: 565,170 SF
- Loan Secured: 10-year loan with a fixed interest rate and interest-only period
- Brokers: Alec Frook & Mark Reichter - Gantry
This transaction was facilitated by brokers Alec Frook and Mark Reichter from Gantry. They played a critical role in arranging the permanent loan to transition from construction financing, ensuring the successful financing of this logistics center in Kansas City.
Players
Lenexa Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93