OVERLAND PARK, KAN. — Walnut Risk Management LLC has signed a 5,640-square-foot office lease at the Aspiria campus in Overland Park. The insurance broker firm specializes in commercial and personal lines insurance brokerage. Construction has begun on the build-out of Walnut Risk Management’s new office, and the company plans to take occupancy in June. Wichita-based Occidental Management owns and manages the Aspiria campus, which is the redevelopment of the former Sprint headquarters.
OVERLAND PARK, KAN. — The Heartland Soccer Association, a nonprofit that supports the development of youth soccer players in metro Kansas City, has moved its corporate office to the Aspiria campus in Overland Park. The move took place in November. Heartland Soccer hosts more than 3,450 league teams annually and 14 tournaments each year that attract more than 3,700 teams from 16 states. Established in 1977, the organization has 74,000 youth soccer players, 4,000 coaches and 2,000 referees. Wichita-based Occidental Management owns and manages Aspiria, which is the redevelopment of the former Sprint campus.
By Max Helgeson, CBRE As the national real estate landscape undergoes transformative shifts, Kansas City has emerged as one of the region’s most attractive multifamily markets. There are a myriad of attributes making Kansas City an unrivaled destination to deploy capital in the heart of the Midwest. Here are six key areas that propel the market to the forefront of real estate investors’ considerations. Economic anchors, diversification Kansas City has one of the nation’s most diverse economies with no sector comprising more than 15 percent of overall employment. A national leader of several durable industries provides unmatched economic stability and significant risk mitigation for investors. Moreover, the metro’s strategic location in the heart of the U.S. and strong transportation infrastructure make it a favored logistical hub for corporations across the world. Finally, the market is a base for startups and entrepreneurs drawn to the area’s abundant talent pool and competitive office space rates. Strategic infrastructure, connectivity Infrastructure is a cornerstone of Kansas City’s rise to prominence. The city’s strategic network of highways, interstates, railways, fiber networks and a major airport not only facilitates connectivity but positions it as a hub for commerce. This strategic infrastructure acts as a magnet, pulling …
LENEXA, KAN. — Mid-America Real Estate Corp. has brokered the sale of Oak Park Commons, a 348,983-square-foot shopping center in Lenexa. The sales price was undisclosed. Tenants at the property include Ross Dress for Less, Hobby Lobby, Ulta, Verizon, Dollar Tree, Petco, K&G Fashion Superstore, Northern Tool + Equipment, Shoe Carnival, Chipotle, Panda Express and Aspen Dental. Oak Park Mall is situated across the street. Ben Wineman of Mid-America, in cooperation with Eric Gonsher of The R.H. Johnson Co., represented the seller, DRA Advisors. The asset sold to a joint venture between Lormax Stern and Time Equities Inc.
OVERLAND PARK, KAN. — Archstone Capital has acquired The Louis Overland Park, a 200-unit townhome community in the Kansas City suburb of Overland Park. Archstone Construction, Archstone’s general contractor, will oversee the property’s upcoming improvements. The acquisition marks Archstone’s entry into the Kansas City market. The Louis Overland Park, formerly named Madison Overland Park, marks Archstone’s 13th acquisition in the Midwest. The property was acquired with equity from Archstone and affiliates in a partnership with Aspen Funds and 7Acre Investments. Planned improvements for the property include upgrades to amenity spaces, modernization of common areas and improvements to enhance curb appeal. Residents can expect state-of-the art appliances, modern flooring, upgraded light fixtures and hard surface countertops.
By John Faur, Newmark Zimmer The Kansas City industrial real estate market has been on a historical run since 2020 with over 40 million square feet of inventory added in that time frame. This run of new construction has catapulted Kansas City to the 15th largest industrial market in the country by square footage, despite only being the 31st largest MSA by population. During most of this period, the strong market dynamics which exist in Kansas City, such as strategic highway infrastructure, a centralized location, four Class-1 railroads, availability of bulk land sites and an active development community, were further amplified by the low-interest rate climate and record levels of tenant activity. The continued high pace of speculative industrial construction starts in 2022 positioned 2023 to experience a healthy amount of new deliveries, with almost 8 million square feet of speculative industrial space delivering to the market. While the financial markets presented opportunity during this run of growth, continuous rate hikes in 2023 created challenges that resulted in a significant decrease in year-over-year speculative construction starts (3.5 million square feet of speculative construction has occurred year to date in 2023 as compared with more than 13 million square feet in …
LENEXA, KAN. — Vantage Point Properties has unveiled plans to develop the office phase of The Quarry mixed-use development in Lenexa. The three-building project will include 145,000 square feet of Class A office space. The overall development was originally announced as Reflections at City Center in summer 2022. The name evolved as a result of the geologic and design characteristics of the property, according to Paul Jackson, CEO of Vantage Point. “As we began our site work for the apartment portion of the project, we unearthed large limestone boulders that we decided would be fun and unique to use in our central park area and around the site. That process took on a life of its own, and we decided to change the development name accordingly.” As a salute the original project name, the apartment complex has been named Reflections Apartments. The 338-unit complex is slated for completion in summer 2025. The office portion of The Quarry will include three buildings totaling 25,000 square feet, 55,000 square feet and 65,000 square feet. The 25,000-square-foot building offers drive-thru availability for a potential bank tenant. Rooftop space opportunities or balcony availabilities are options for full-floor tenants as are exterior signage opportunities with …
OVERLAND PARK, KAN. — Adams Brown LLC, a CPA and advisory firm, has unveiled plans to relocate its Overland Park office to the Aspiria campus. The move is expected to take place in the fourth quarter of 2024. With numerous office locations throughout the central region, Adams Brown specializes in serving those in the agriculture, construction, manufacturing, dental and physician practice, local government and closely held businesses. The firm has operated in the Kansas City market since 2017 and has outgrown its current office space. Wichita-based Occidental Management owns and manages the Aspiria campus, which is the redevelopment of the former Sprint campus.
DE SOTO, KAN. — Flint Development is nearing completion of the first building at Flint Commerce Center, a $390 million industrial park in the western Kansas City suburb of De Soto. At full build-out, the multi-phased project will include up to six buildings on a 370-acre site. Development of the first building, a 1 million-square-foot distribution center, is slated for completion this summer. Located at 10200 Edgerton Road, the cross-dock distribution center is being constructed with tilt-up concrete panels and 40-foot clear heights. The first facility — which is called Building C — will offer 98 dock doors and four drive-through doors, with the capacity to expand to 168 dock doors. The parking lot can accommodate 515 cars and 251 trailers. In August 2023, Panasonic Energy announced plans to lease half of the facility to support a nearby lithium ion battery manufacturing facility, which is currently under construction. “There is a lot of excitement surrounding the Panasonic factory and we are happy to see the amount of prospect activity for Flint Commerce Center,” says Mark Long, CEO of Newmark Zimmer. Newmark Zimmer is representing Flint Development in lease negotiations for Flint Commerce Center. “Together, this lease and the additional land …
MISSION, KAN. — The Other Place, an American sports grill and pizzeria, has opened at Mission West Shopping Center in Mission, a southern suburb of Kansas City. The tenant occupies the 4,050-square-foot space at 6522 Martway St. that was formerly home to Italian Delight. David Block, Max Kosoglad and Darren Siegel of Block & Co. Inc. Realtors represented ownership in the lease. The Other Place was founded in 1970 in Cedar Falls, Iowa. This location marks the fourth in the greater Kansas City area. There are also eight locations in Iowa. Mission West totals approximately 87,000 square feet.