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Wyandotte County Amazon facility acquired for $137M

Despite construction still underway for a Amazon logistics center in Wyandotte County, the center has been acquired by two South Korean companies. Bought as part of a larger $390 million deal, the site was acquired through a joint venture with Scannell Properties.

Construction plans for Amazon.com Inc. distribution center in Wyandotte County were revealed in October 2020.

Today, the center is still under construction and has now been acquired by two South Korean companies for $137 million.

The purchase is part of a larger $390 million acquisition of the project by the two companies, and was made through a joint venture with Scannell Properties.

Wyandotte’s County’s Amazon center in the works is just one of three picked up by IGIS Asset Management Co. and Hana Financial Investment Co.

One of the others includes a 1.08 million-square-foot Amazon distribution center in Kansas City, Kan.

As part of the acquisition, IGIS and Hana will buy preferred shares in the joint venture with Scannell,

The companies will pay the balance and take full ownership of the Amazon facilities once construction is completed in the second half of 2021.