August 11, 2026 By M. G. JimenezMorgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing, announced on Aug. 11 the acquisition of a newly developed, 1.5 million-square-foot distribution facility in Kansas City, Missouri, for $158.5 million. The property was purchased from Hunt Midwest and is subject to a long-term net lease with Ace Hardware. "This acquisition reflects our continued conviction in high-quality net lease investments that combine strong tenant credit, mission-critical operations and institutional-quality real estate," said David Gross, Managing Director at Morgan Stanley Real Estate Investing. Together these attributes position the property as an important part of Ace Hardware’s supply chain network and add to Morgan Stanley Real Estate Investing’s net lease portfolio. Ted Pick became CEO of Morgan Stanley in January 2024 before assuming chairmanship in January 2025; historically the company pioneered an automated trade system known as TAPS in 1984, according to the official website.