The Minneapolis-based Opus Group has announced plans for a 205,000-square-foot speculative industrial facility in Olathe. Reflecting the strength of the market, this new development will continue to expand Opus’ development presence in the Kansas City area.
“We’re thrilled to be growing our services and expertise on the ground in Kansas City and are looking forward to strengthening our investment in the region.” said Joe Downs, vice president, real estate development, Opus Development Company.
As part of the Kansas City expansion, the team recently welcomed Devon Coffey, real estate representative, to support development efforts across multiple sectors in the region.
Known as 56 Commerce Center, the speculative building is the first phase of a master-planned development that can accommodate up to 505,000 square feet. Located on a 53-acre site on the southeast corner of Old 56 Highway and Lone Elm Road in Olathe, 56 Commerce Center will offer convenient access to Interstate 35, as well as the I-435/I-35 interchange. Completion of the first phase of the project is slated for January 2017.
Providing future tenants with a new building option that doesn’t currently exist in the market, the first phase will consist of a rear-loaded, modern office warehouse building that can accommodate multiple tenant occupancy and will feature 32-foot clear height and a truck court. Additionally, the site boundaries will offer tenants significant flexibility, allowing for extra parking and increased outside storage space as needed.
This project is said to fulfill unmet demand for industrial development in Kansas City, where there is a strong interest from tenants looking for space in the 30,000- to 80,000-square-foot range. 56 Commerce Center will be a prime location for users with distribution needs in the south Johnson County area following the 2013 opening of the nearby BNSF Intermodal Facility in Edgerton, Kansas. The developer says this new infrastructure, coupled with strong population growth and positive industrial absorption, indicates a dynamic time for commercial real estate in the region.
Opus’ recent portfolio of work includes 8.2 million square feet of industrial developments currently in its pipeline or completed in the past 24 months across the United States. Operating with offices in nine markets, Opus is organized by discipline and not geography.
Opus Development Company will be the developer, Opus Design Build will be the design-builder ,and Opus AE Group will be the architect and structural engineer of record. Joe Orscheln and Mike Mitchelson with CBRE will market the property for lease.
About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. Follow @TheOpusGroup on Twitter.