JLL Completes Sale of Procter & Gamble’s Kansas City Campus :REAL ESTATE

Procter & Gamble plant in Kansas City. Image courtesy of JLL

JLL has arranged to sell Procter & Gamble’s 574,000-square-meter industrial campus in Kansas City, Kan. A partnership between New Mill Capital and the Gordon Brothers Group has acquired the property, according to public records.

The JLL team supporting the seller consisted of Managing Regional Director Kevin Wilkerson and Executive Vice President Phil Algrim.

The production facility was built in 1905 and expanded in the following decades. The industrial site is located near the intersection of Route 69 and Interstate 70 and offers direct rail access. Downtown Kansas City is 5 miles east of the property and downtown Charles B. Wheeler Airport is 3.7 miles away.

Although the company announced in 2018 that it would close the centuries-old plant, Procter & Gamble signed a lease, at least for the rest of the year. The property includes 160,000 square meters of office space, 186,000 square meters of production space and 200,000 square meters of storage and sales space.

Last month, JLL received a $ 991.8 million loan on behalf of the California State Teachers’ Retirement System. The 17-building portfolio with an area of ​​7 million square meters comprises nine industrial plants, five office properties and three apartment buildings.

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