|
contents | business | |||||||||
| Hines/Oaktree Venture to acquire Lenexa real estate developments Hines, the international real estate firm, announced that along with a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P. (Oaktree), it has acquired the Southlake Technology Park and Lenexa Industrial Park. Financials on the deal were not disclosed. The two commercial real estate parks comprise 1.67 million square feet of leasable space in 40 buildings that are strategically located near the intersection of Interstate 35, Interstate 435 and Kansas 10, the transportation and economic nexus in Kansas. Southlake Technology Park comprises 15 office buildings totaling 933,000 square feet of space. There are 10 sites of vacant land totaling 53 acres available for future development along College Boulevard from Lackman Road to Renner Boulevard. The development began construction in 1987 and was completed in 2002. Lenexa Industrial Park comprises 25 industrial and flex buildings totaling 736,000 square feet of space. There are four sites totaling 16 acres available for future development near 99th Street and Pflumm Road. The development began construction in the 1970s and was completed in 1999. The portfolio is currently 67 percent occupied. Ned O'Connor of Waterford Property Company is responsible for leasing Southlake Technology Park, the office portion of the portfolio, while Mark Feitz of LaSala-Sonnenberg Commercial Realty is the broker for Lenexa Industrial Park, the industrial component. Hines will be the property manager on both. write your comments about the article :: © 2013 Construction News :: home page |