Overstock.com Leases 517,391 SF of Industrial Space in KC, Kansas
KANSAS CITY, Kan.--(BUSINESS WIRE)--Oct 8, 2018--Overstock.com, Inc. (NASDAQ:OSTK), an online retailer based in Salt Lake City that sells a broad range of products, including furniture, décor, rugs, bedding, and home improvement, has signed a lease for 517,391 SF of industrial space.
The leased property, which is located at 5300 Kansas Ave., in Kansas City, KS, is owned by Santa Monica-based BH Properties, which was represented by John Hassler and Mark Long, SIOR, of Newmark Grubb Zimmer in Kansas City and in-house by Bill Hardy. Overstock.com was represented by Luke Burbank and Kyle Roberts (SIOR) from Newmark Grubb Acres in Salt Lake City and Mr. Long.
Kansas City has become an attractive location for businesses with its centralized link to the nation. With four of the nation’s major interstate highways located at this juncture, Kansas City has the ability to ship anywhere in the contiguous 48 states within three days and has become the largest rail center in the United States.
Currently, Overstock has three locations nationwide, including Salt Lake City, UT, Carlisle, PA and Kansas City, KS.
While Overstock.com’s initial search also included locations nationwide, Steve Gozini, president and CEO of BH Properties, said the transaction would not have materialized without the help of Chris Gutierrez of KC SmartPort, Greg Kindle from the Wyandotte Economic Development Council and Alicia Hutchings from the State of Kansas, who were instrumental in perking Overstock’s interest in the location.
BH Properties, which in addition to Santa Monica, has offices in Salt Lake City, Utah and Phoenix, Arizona.
About BH Properties
BH Properties is a proven leader in commercial real estate investing. The company owns approximately 100 properties in 17 states, operates and re-positions “value-add” real estate across the country. Over the past two decades, BH Properties has developed its own distinctive commercial real estate investing strategies that have proven equally beneficial to sellers of real property by swiftly acquiring properties as fast as 48 hours. For the latest news from BH Properties, please visit us at https://bhproperties.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20181008005144/en/
CONTACT: BH Properties
Katherine Viado, 310-820-8888
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA KANSAS UTAH
INDUSTRY KEYWORD: DISCOUNT/VARIETY ONLINE RETAIL HOME GOODS RETAIL SPECIALTY CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: BH Properties
Copyright Business Wire 2018.
PUB: 10/08/2018 07:00 AM/DISC: 10/08/2018 07:00 AM