Newmark Zimmer, as exclusive advisor, is pleased to present the opportunity to acquire the Business Exchange Building (the “Property”). The Property is a rare Class A, 48,903 square foot multi-tenant office building located at 200 NE Missouri Road, Lee's Summit, Missouri. Business Exchange is 97% leased to eight tenants with a 4.4-year WALT, average lease size of 6,100 square feet in a variety of industries, with 45% medical tenants. Select tenants include HCA Midwest Health, KC Pain Center, and Elite Health Performance. The building is fitted with rooftop solar panels that have reduced the utilities expenses for for tenants significantly.
Business Exchange is located in Lee’s Summit, one of the most desirable and fastest growing communities in the Kansas City metro with great access to the entire Kansas City metro via Interstate 470, 350 Highway and 291 Highway with proximity to Lake Jacomo and Lee’s Summit Regional Airport. The Property is less than one mile from Discovery Park, an approximately $1B mixed-use development and Lee’s Summit’s largest hospital Saint Luke’s East.
Lee’s Summit has extremely limited supply for quality general office and medical office space with a submarket vacancy rate of 7% compared to 17% vacancy in the rest of the Kansas City metro.