The Capital Markets team at Newmark Grubb Zimmer has successfully negotiated the sale of a Lee's Summit shopping center.
Douglas Station Center is a 41,088-square-foot retail center at 20 NE Sycamore St. and 1160 NE Douglas St. in Lee's Summit. Michael L. VanBuskirk and Chris Robertson represented the seller, an investment entity associated with Cohen Equities in New York. The buyer, LS Investors One LLC, was not represented.
With this transaction, Newmark Grubb's Capital Markets team has closed or put under contract investment assets in Missouri and Kansas totaling $73.5 million and 1.45 million square feet.
Cohen Equities is a national real estate investment firm that pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. The company has successfully invested in and improved more than 9 million square feet of real estate across the United States. Led by Meir Cohen, a real estate veteran with more than 30 years of experience, Cohen Equities creates significant value through active management, leasing and repositioning activities.