Developer Amerimar Enterprises has acquired 1102 Grand Avenue, a leading telecom building in Kansas City. Amerimar is partnering with telecom industry veteran Hunter Newby to own and operate the property. The Kansas City project is the second collaboration announced this week by Amerimar and Newby, who will also team with Jamestown Properties to develop and manage 325 Hudson Street in New York City.
Amerimar specializes in redeveloping and repositioning real estate assets, with its projects including the data center hub at 1500 Spring Garden in Philadelphia. Newby is well connected in fiber and interconnection circles from his experience building the Telx Group’s business at the 60 Hudson Street carrier hotel in Manhattan.
“1102 Grand fits squarely within Amerimar’s strategy to acquire properties with stable cash flow and the opportunity to add value over time through infrastructure improvements," said Jerry Marshall, President and Chief Executive Officer of Amerimar. "1102 is a natural fit for the Amerimar platform, and we’re thrilled to be working with Hunter Newby on yet another telecom property.”
1102 Grand is a 26-story, 194,000-square-foot property originally developed in 1931 as an office building. The property has since been redeveloped into the leading network-neutral facility in the Kansas City Metro area. The building has immediate access to the Axon ring (the fiber optic loop that connects the Johnson County area of the Kansas City Metro with Downtown Kansas City). The building also provides highly reliable data center operations with its robust power and HVAC infrastructure.