Edwardsville, Kansas, a suburb of Kansas City, Missouri, is home to the sale of the largest cross-dock truck terminals in the United States, sitting on a prime industrial site of over 109 acres with 335 doors and 275,000 square feet. The listing drew interest from buyers around the world and received multiple rounds of offers.
Ultimately awarded to Stockbridge Capital Group in San Francisco, the $93 million trade set a single-asset record for price per square foot, $338.22, in the Kansas City industrial market. As such, the deal earned a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the region.
The property was fully leased to a global package transport firm at the time of sale. The shipping giant has been at the facility since its development in 1999, and the property plays a mission-critical role in its North American supply-chain strategy.
About the project: The property on the west side of the Kansas City area is located directly off Interstate 435, just south of the intersection with Interstate 70, allowing for convenient access to the entire continental U.S. The oldest parts of the complex were built in 1999, with expansions in 2013 and 2019.
What the judges said: “The size of the transaction is impressive along with the fact that it garnered worldwide attention,” said Chuck Connealy, a principal of Waterford Property Co.
They made it happen: Mark Long, John Hassler, Jerry Hopkins and Ken Hedrick from Newmark represented the seller.
