Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), has acquired a newly developed, 1.5 million-square-foot distribution facility in Kansas City, Mo., for $158.5 million. The property was acquired from Hunt Midwest, which developed the class A logistics facility as a build-to-suit in 2025 in the first phase at KCI 29 Logistics Park. The facility is subject to a long-term net lease with Ace Hardware, the world’s largest hardware cooperative and one of the most recognized brands in the home improvement sector, with more than 5,300 locally owned and operated stores in more than 60 countries. This property was acquired through an off-market transaction facilitated by Mark Long and John Hassler of Newmark Zimmer.
“This acquisition reflects our continued conviction in high-quality net lease investments that combine strong tenant credit, mission-critical operations and institutional-quality real estate,” said
