Block Real Estate, L&B Realty Advisors Acquire Seven Industrial Properties

Block Real Estate and L&B Realty Advisors have completed the purchase of more that half a million square feet of industrial space. Photo credit: Shutterstock (VideoFlow).

Posted September 23, 2025

Kansas City-based Block Real Estate has acquired nearly 625,000 square feet of industrial space across three business parks in Johnson County.

Block Real Estate and L&B Realty Advisors acquired a collection of seven light industrial assets — totaling 624,784 square feet — from real estate investment firm Clarion Partners, according to a release. Headquartered in New York, Clarion Partners has offices across the United States and Europe with over $73 billion in total real estate and debt assets.

The portfolio consists of properties in the Switzer, Westbrook, and Brookhollow business parks. The parks are located off Interstate 35. Built between 1979 and 2001, the seven properties range from 35,901 square feet to 155,213 square feet. The average clear height is 23 feet, offering both multi-tenant and single-tenant formats across 26 total suites.

The portfolio is currently 87.3 percent occupied, with tenants including Manna Pro Products, HCA Healthcare, University of Kansas Hospital Authority, Siemens Corporation and Temp-Con, according to the release.

JLL represented Clarion Partners in the sales. Financial terms were not disclosed.

“Johnson County’s light industrial and shallow bay fundamentals significantly outperform the greater Kansas City market, with substantially lower vacancy rates and zero oncoming competitive product,” JLL Capital Markets Managing Director Ed Halaburt said in the release. “This lack of available options demonstrates the potential for continued rent growth, making the submarket particularly attractive to investors seeking markets with strong supply-demand dynamics that support long-term value creation.”

Headquartered in Dallas, L&B Realty Advisors is a global, full-service investment manager that advises institutional investors on real property investments. The firm has nearly 100 employees with 8.9 billion in assets, according to its website.