KC-area distribution center sells for $12.5M
Written on March 20, 2010
WelshInvest LLC, an affiliate of Minnesota-based Welsh Cos., has announced the acquisition of the KGP Distribution Center, a 311,000-square-foot industrial property in New Century.
Bought by Welsh Real Estate Fund IV LLC, the KGP Distribution Center was acquired for $12.5 million. The 17.65-acre property is at 500 Sumner Way, directly north of Edgerton’s proposed intermodal site. The facility is 110 percent leased until 2018 by KGP, a leading diversity provider of supply-chain services, telecommunication products and integrated services personal loans for people with bad credit.
Welsh Cos. is in the process of going public with a real estate investment trust to raise $345 million to buy more properties.
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