AREA had a client that came to them needing a 1031 Exchange option. The AREA Industrial team was able to fully search the KC Metro and the Midwest region for viable properties. Upon presentation, one property was definitively the best option, a 400,828 SF industrial facility near the airport. With AREA’s direction, our client was able to put 7501 NW 106th Terrace (Pure Fishing Distribution Building) under contract. While the Buyer was going through its due diligence, AREA was able to provide a tenant, URBN Retail, LLC to lease the space within 30 days, prior to the buyer formally closing on the acquisition.
URBN Retail, LLC is a portfolio of global consumer brands comprised of Urban Outfitters, Anthropologie, Free People, BHLDN, Terrain, Menus & Venues, and Nuuly.