A busy year for Northpoint Development is wrapping up with another new direction for its real estate business — the establishment of an industrial investment fund.
“We hope to invest somewhere in the range of $35 million,” Northpoint CEO Nathaniel Hagedorn said.
Northpoint has started in earnest with a pair of industrial acquisitions that have closed late in the year. One was a 236,000-square-foot mostly leased building in North Kansas City’s Northtown Business Center. Hagedorn did not disclose the sale price; it was listed for $8 million. The other was a 133,000-square-foot building at 1010 N. Century Ave. in Kansas City. That building is 70 percent vacant and was listed for $4.5 million…