Type: INDUSTRIAL/FLEX Value-add

Status: stabilized

Principals of BoxDevCo acquired an interest in an approximately 24,000 SF flex building in Lee’s Summit, Missouri in 2017, sourced off-market through a personal relationship.  

The building had been neglected with tenants complaining of a leaking roof, pavement problems, and other issues.  As a result, the tenants were unhappy and lease terms were running short.

Following acquisition the next several months were spent negotiating lease renewals with tenants, replacing a portion of the roof and re-instating a roof warranty, painting the building, repairing asphalt and concrete issues, simplifying the tax parcel, successfully appealing the tax valuation, and other minor clean-up issues.

This project continues to be owned by the same group led by Box Real Estate Development and is leased and managed by NAI Heartland. For leasing inquiries please contact Ben Boyd at ben@nai-heartland.com.

Deal Summary

Confidential

Note: Past performance of any one deal is not a guaranty of future performance of any specific project.  Please evaluate each opportunity independently and invest wisely.