High Yield Landmark Asset with Upside
High Yield Landmark Asset with Upside
Newmark Zimmer is pleased to present the unique opportunity to acquire Mission Towers, a ±174,647 SF multi-tenant office building (the “Property”). The Property is located in one of the most desirable and affluent areas in Kansas City on 5.97 acres at 5700 Broadmoor Street, Mission, Kansas 66202. At 90% occupied, Mission Towers offers investors robust cash flow with a diversified tenant mix, upside through lease-up at market rental rates and appreciation through increased demand in the immediate area.
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Newmark Zimmer, a full-service commercial real estate company headquartered in Kansas City, provides a range of services including sales and leasing, investment sales, property and facilities management, global corporate services, owner’s representative services for public and private development projects, and public-sector consulting. 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 Midwest region, Newmark Zimmer manages more than 13.5 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.
For further information, visit nmrkzimmer.com.
- Property Type
- Office
- Deal Type
- Acquisition
- Risk Profile
- Value-AddOpportunistic
Newmark Zimmer is pleased to present the unique opportunity to acquire Mission Towers, a ±174,647 SF multi-tenant office building (the “Property”). The Property is located in one of the most desirable and affluent areas in Kansas City on 5.97 acres at 5700 Broadmoor Street, Mission, Kansas 66202. The Property contains multiple suite sizes and floorplans for a variety of companies seeking great visibility and proximity to a top tier employment pool. Originally constructed in 1971, the property has been well maintained and undergone several recent major capital improvements. At 90% occupied, Mission Towers offers investors robust cash flow with a diversified tenant mix, upside through lease-up at market rental rates and appreciation through increased demand in the immediate area.
Located off of Highway 69 (Metcalf Avenue) and Johnson Drive the Property offers office users great visibility with close proximity to amenities in Downtown Mission and neighborhood nodes for access to high quality labor. The property is accessed by Metcalf Avenue with proximity to Interstate 35 and Interstate 635 providing access to the entire Kansas City metro and just a short drive to Downtown Mission,Downtown Overland Park, Country Club Plaza Shopping District, Downtown Kansas City and four of Kansas City’s most desirable country clubs. The area continues to grow with new investment in the immediate area including development of a new 307 Class A apartments directly north of the Property.