Kansas

Kansas City Industrial Market: Yesterday, Today and Tomorrow

by Kristin Harlow September 21, 2023

By Scott Bluhm, Newmark Zimmer Since 2016, the Kansas City industrial market has been on a hot streak. We observed more opportunities and increased user activity. There have been consistent years of record positive space absorption and the delivery of Class A buildings, whether speculative or build-to-suit. The peak of that hot streak was in 2022. The year concluded with records in positive absorption, vacancy and rental growth. By the end of 2022, Kansas City became the 15th-largest industrial market in terms of square footage, surpassing Seattle. Significant statistics for 2022: •Over 16 million square feet of positive absorption •A vacancy low of 3.6 percent •A 10.6 percent increase in rental rates The year 2023 has been unique due to economic conditions and uncertainty. New speculative construction starts are down approximately 70 percent, with around 2.5 million square feet breaking ground in 2023. Most of the speculative buildings delivering in 2023 were projects that began construction in 2022. Annual net absorption has decreased to 2.5 million square feet in the first and second quarters. For reference, the fourth quarter of 2022 saw a record-setting net absorption of approximately 7.3 million square feet, and the third quarter of 2022 had 3.2 …

September 21, 2023

Development Industrial Kansas Midwest Top Stories

Contegra Starts Construction of 1 MSF Inland Port 9 Distribution Center in Edgerton, Kansas

by Jeff Shaw September 15, 2023

EDGERTON, KAN. — Contegra Construction Co. has started construction of Inland Port 9, a 1 million-square-foot distribution center located in the Kansas City suburb of Edgerton. NorthPoint Development is leading the the project, which is situated within Logistics Park Kansas City (LPKC), a 3,000-acre, master-planned development that was launched 10 years ago. Inland Port 9 will feature a clear height of 40 feet, 100 dock doors and four drive-through doors. The building will also include flexible space for a single tenant or multiple tenants with options for office space. The facility includes eight make-up air units and exhaust fans, as well as 14 high-volume, low-speed fans for continuous air circulation. Parking will be available for 479 cars and 352 trailers. The project is scheduled for completion in February 2024. LPKC is a rail-served facility approximately 25 miles southwest of downtown Kansas City. The park currently hosts more than 14.4 million square feet of industrial space and has the capacity for a total of 30 million square feet. BNSF Railway’s intermodal facility anchors the property. Inland Port 9 will be the second distribution center that Contegra has built at LPKC. The company previously constructed an 850,000-square-foot project for Northpoint Development at the …

September 15, 2023

Industrial Kansas Leasing Activity Midwest

Panasonic Leases 509,760 SF at Flint Commerce Center in De Soto, Kansas

by Kristin Harlow August 31, 2023

DE SOTO, KAN. — Panasonic Energy has leased 509,760 square feet of industrial space at Building C within Flint Commerce Center in De Soto, about 30 miles southwest of Kansas City. The 1 million-square-foot building is under construction and slated for completion in summer 2024. The 370-acre flint Commerce Center can accommodate users ranging from 200,000 to 2 million square feet. Flint Development is the developer. Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer represented Flint in the lease with Panasonic.

August 31, 2023

Industrial Kansas Leasing Activity Midwest

Iconex Renews 88,461 SF Industrial Lease at Cambridge Business Park in Kansas City

by Kristin Harlow August 31, 2023

KANSAS CITY, KAN. — Iconex, a provider of label solutions and paper receipts, has renewed its 88,461-square-foot industrial lease at Cambridge Business Park in Kansas City. Copaken Brooks owns Cambridge Business Park, which totals 13 buildings and 464,521 square feet of light industrial and office space. There are more than 45 long-standing tenants at the property. Iconex has been a tenant since 2007. Its new lease goes through 2030. John Stafford of Colliers represented Iconex, while Jeremiah Dean represented Copaken Brooks on an internal basis.

August 31, 2023

Industrial Kansas Leasing Activity Midwest

Standard Motor Products Leases 574,732 SF Industrial Building at Hunt Midwest’s Heartland Logistics Park in Kansas

by Kristin Harlow August 30, 2023

SHAWNEE, KAN. — Standard Motor Products has leased Building II at Hunt Midwest’s Heartland Logistics Park in Shawnee. The global manufacturer and distributor of premium automotive parts will relocate from Edwardsville, Kan., to the 574,732-square-foot facility. The new space provides the tenant with 200,000 more square feet than its current footprint. The 113-acre Heartland Logistics Park will support more than 1 million square feet of industrial space. Plans call for a third building totaling 846,450 square feet and a fourth building spanning 187,200 square feet. The project team for Building II included Renaissance Infrastructure Consulting for civil engineering, Finkle + Williams Architecture for building design and Brinkmann Constructors as the general contractor. Louis Pascuzzi and Mark Long of Newmark Zimmer represented Standard Motor Products in the lease. Ed Elder and John Stafford of Colliers are handling leasing of the park.

August 30, 2023

Acquisitions Development Kansas Midwest Multifamily

Block & Co. Brokers Sale of 12.8-Acre Vacant Site in Overland Park, Kansas

by Kristin Harlow August 24, 2023

OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has brokered the sale of 12.8 acres of vacant land located on the southwest corner of 135th Street and Antioch Road in Overland Park. The sales price was undisclosed. Formerly a landscape nursery and greenhouse for over 40 years, the site is positioned at a heavily trafficked intersection and features convenient access to Highway 69. David Block and Mark McConahay of Block & Co. represented the undisclosed seller. The new ownership group has outlined plans to develop an apartment complex on the site. Construction is expected to begin immediately, with completion slated for next year. Block & Co. anticipates marketing the remaining 4.2 acres of ground that runs along the north edge of the property along 135th Street. Four pad sites have been proposed with ground lease or build-to-suit options available.

August 24, 2023

Development Kansas Midwest Office

Occidental Management Expands Aspiria NOW Coworking Facility in Overland Park, Kansas

by Kristin Harlow August 22, 2023

OVERLAND PARK, KAN. — Occidental Management has expanded Aspiria NOW, its coworking facility on the Aspiria campus in Overland Park. The expansion extended the coworking space to the third floor of its existing building with an additional 30,000 square feet that includes 11 new private offices, 60 dedicated workstations and increased collaboration areas. The firm has also hired Kathy Todtenhausen to serve as community manager, supporting General Manager Robert Curland in a variety of functions. Aspiria NOW first opened in August 2022 and is now home to more than 28 member companies. Aspiria NOW memberships are available in a variety of flexible plans, including daily, month-to-month and long-term packages. The more than 80,000-square-foot space can accommodate corporations that need temporary spaces for special projects or hybrid workspace options.

August 22, 2023

Acquisitions Iowa Kansas Midwest Multifamily Nebraska Seniors Housing

Tutera Acquires 10 Senior Living Communities in Iowa, Nebraska, Kansas

by Kristin Harlow August 18, 2023

IOWA, NEBRASKA AND KANSAS — Tutera Senior Living & Health Care has acquired 10 communities in Iowa, Nebraska and Kansas, expanding the family-owned company’s footprint by more than 20 percent. The purchase price was undisclosed. The properties total 443 assisted living, memory care and residential care units with an average of 44 units each. Tutera is retaining all employees at the newly added communities to ensure continuity of care for residents. The properties include: Pinicon Place Senior Living in Anamosa, Iowa; Rolling Meadows Senior Living in Carroll, Iowa; Eiler Place Senior Living in Clarinda, Iowa; Amelia Senior Living in Council Bluffs, Iowa; Floyd Place Senior Living in Sergeant Bluff, Iowa; Cottonwood Place Senior Living in Columbus, Neb.; Pathfinder Place Senior Living in Fremont, Neb.; Morton Senior Living in Nebraska City, Neb.; Greene Senior Living in Seward, Neb.; and Abilene Place Senior Living in Abilene, Kan.

August 18, 2023

Development Kansas Leasing Activity Midwest Restaurant Retail

Copaken Brooks to Begin Development of Restaurant Row at Lenexa City Center in Kansas

by Kristin Harlow August 1, 2023

LENEXA, KAN. — Copaken Brooks is set to begin development of Restaurant Row at Lenexa City Center. Located on the corner of 87th Street and Renner Boulevard, the project is adjacent to AdventHealth’s 13-building campus that is currently under construction. The first phase of Restaurant Row will include two restaurant concepts set to open in fall 2024, with two remaining spaces available for lease. Cactus Grill TexMex & Tequila, a local Kansas City restaurant that has operated for more than 30 years, will occupy 5,000 square feet. Restaurant Row will be Cactus Grill’s third location, following its original restaurant in Leawood and its newest in BluHawk. North Carolina-based Tupelo Honey will occupy 5,700 square feet. The Southern food chain currently operates 21 locations across the United States with six additional planned to open in the next 18 to 24 months. John Nolan of Crossroads Real Estate Group represented Cactus Grill, while Howard Zoldessy of Hatcher-Hill Brokerage LLC represented Tupelo Honey.

August 1, 2023

Industrial Kansas Leasing Activity Midwest

BCB Development Adds Two New Tenants at Southpark Commerce Center in Metro Kansas City

by Kristin Harlow July 25, 2023

OLATHE, KAN. — BCB Development has signed leases with two new tenants at Southpark Commerce Center in Olathe. Rob Holland and Jack Goldsborough of Cushman & Wakefield represented BCB in each of the leases. United Rotary Brush leased the entire 135,000-square-foot Building B. Joe Accurso of Cushman & Wakefield represented the tenant. Groundworks leased the entire 112,550-square-foot Building A. Whitney Freeburn of Flowers Capital Holdings represented the tenant. Southpark Commerce Center consists of three buildings totaling 382,500 square feet and delivered in December. There are 54,000 square feet remaining available for lease in Building C.

July 25, 2023

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