THE WHAT? JLL has closed on the sale of a manufacturing site in Kansas City owned by Procter & Gamble, according to a report published by RE Journals.
THE DETAILS The 574,000 industrial complex was purchased by New Mill Capital. Procter & Gamble committed to a lease for the remainder of the year as part of the transaction. Financial terms were not disclosed.
THE WHY? Procter & Gamble has been planning to close the Kansas plant since 2018, when it announced operations would transfer to its new facility in West Virginia.