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Lenexa Logistics Centre

Lenexa, KS

$32,000,000

PROPERTY TYPE

Industrial

DATE

January 21, 2025

FINANCING TYPE

Permanent

Lenexa Logistics Centre North #5 Stabilized in Multi-Tenant Format; Life Company Loan Offers Fixed Rate and Interest Only Introductory Period to Retire Construction Debt

Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $32 million permanent loan to retire construction financing for Lenexa Logistics Centre North #5 located at 10901-10941 Mill Creek Rd in Lenexa, Kansas, a suburban submarket of the Kansas City MSA. The fully leased property was completed in 2022 and encompasses 565,170 square feet of Class A warehouse space occupied in a multi-tenant format with immediate access to I-35, I-435, and Highway 10.


Gantry’s Mark Reichter, Principal, and Alec Frook, Associate, with the firm’s Kansas City production office represented the borrower, a private real estate investor. The 10-year loan was secured through one of Gantry’s insurance lenders and features a fixed interest rate and introductory interest only period transitioning to a 30-year amortization.


According to Gantry’s Mark Reichter, “Industrial property, especially new construction like Lenexa Logistics Center, remains a favored asset class for Gantry’s extensive roster of insurance company lenders. These lenders remain a ready source for fixed rate, permanent financing and their willingness to rate lock at application in a volatile rate climate has helped them maintain a competitive advantage with borrowers able to meet their debt service and other underwriting criteria. Gantry’s time-tested and often exclusive correspondent relationships with these lenders helps us to better position our clients for success by communicating local market fundamentals, relevancy and sponsorship experience during the underwriting process as these lenders search for qualifying assets for their loan programs.”

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