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Morgan Stanley Real Estate Investing Acquires Ace Hardware Distribution Facility in Kansas City From Hunt Midwest for $158.5 Million

MS
  • Morgan Stanley Investment Management acquired a 1.5 million-square-foot distribution facility in Kansas City, Missouri, for $158.5 million.
  • The Class A logistics property was developed by Hunt Midwest in 2025 as the first phase of the KCI 29 Logistics Park.
  • The facility is subject to a long-term net lease with Ace Hardware, the world's largest hardware cooperative.
  • Mark Long & John Hassler of Newmark Zimmer facilitated the off-market transaction.
  • The building is the largest distribution center in Kansas City by footprint, featuring a cross-dock configuration, 40-foot clear height, & advanced automation.
  • The acquisition aligns with MSREI's strategy to invest in mission-critical real estate leased to high-quality tenants.
  • The KCI 29 Logistics Park is a 3,300-acre megasite designed to support up to 20 million square feet of industrial facilities.
  • Morgan Stanley Real Estate Investing currently manages $58 billion of gross real estate assets worldwide.
  • Morgan Stanley Investment Management oversees $2 trillion in assets under management or supervision as of June 30, 2026.
  • Hunt Midwest is a privately held Kansas City-based developer with over $3 billion in projects developed across multiple markets.