Kansas City, MO (September 2018) — Overstock.com has leased 517,000 square feet for a new Distribution Center at 5300 Kansas Avenue in Kansas City, Kansas. Luke Burbank and Kyle Roberts with Newmark Grubb Acres in Salt Lake City led the national site search for Overstock.com. Mark Long and John Hassler with Newmark Grubb Zimmer teamed with Newmark Grubb Acres to provide assistance with lease negotiations in the Kansas City region. The building is owned by BH Properties based in Los Angeles, California.
“Selecting Kansas City as the home of Overstock’s newest fulfillment center allows us to offer over 99% of our US customers two-day shipping options, improving shopping experiences by getting orders into the customer’s hands as soon as possible,” said Overstock.com Vice President of Supply Chain Carroll Morale. “We’re extremely thankful for all of the support and collaboration we’ve received from state and local officials and the Kansas City Area Development Council during this expansion process.”
Chris Guiterez with Kansas City Smartport, assisted in the coordination of all state and local economic development experts that assisted in this project including the State of Kansas Department of Commerce and the Wyandotte Economic Development Council. Overstock.com will begin to move in immediately and will employ up to 200 people.
“Kansas offers a great central location and the best workers in the country for any company looking to relocate here. We are thrilled that a successful company such as Overstock has selected Kansas City for its latest distribution center,” said Governor Jeff Colyer, M.D. “Opening for business in Kansas will provide Overstock.com with an excellent strategic location and creates hundreds of well-paying job opportunities for Kansans.”
About Newmark Grubb Zimmer
Newmark Grubb Zimmer is a full-service commercial real estate company providing 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. Newmark Grubb Zimmer’s 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 region, Newmark Grubb Zimmer manages more than 7.8 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.
About Newmark Grubb Acres
Newmark Grubb Acres, with offices in Salt Lake City, Layton, American Fork, and Logan, is the premier commercial real estate brokerage in Utah providing expert services to both local and global clientele. Newmark Grubb Acres specializes in industrial, office, retail, investment and multifamily properties. Services for the firm include acquisitions and dispositions, leasing, tenant representation, lease administration and audit, investment services, due diligence, and related consulting and advisory services.
About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark"), is one of the world's leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.