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Opus Starts Another Spec in the Midwest

KANSAS CITY—This project fulfills unmet demand for industrial development in the Kansas City area, where many tenants need space in the 30,000 – 80,000-square-foot range.

By Brian J. Rogal | brianjrogal | | Updated on July 29, 2016

 

ks-56-Commerce-Center-Spec-Industrial-Development (2) This speculative building is the first phase of a master-planned development that can accommodate up to 505,000 square feet.
KANSAS CITY— The industrial market in this region is firing on all cylinders, and the Opus Group has decided now is the right time to launch a 205,000-square-foot speculative industrial facility in Olathe, KS, one of many similar projects it has underway in the US. “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,” says Joe Downs , vice president, real estate development, Opus Development Co., LLC . As part of its 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, this 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 Loan Elm Rd., 56 Commerce Center will offer convenient access to I-35, as well as the I-435/I-35 interchange. Opus plans to complete this first phase by next January. This project fulfills unmet demand for industrial development in the Kansas City area, where many tenants need space in the 30,000 – 80,000-square-foot range, Opus officials say. And any users at 56 Commerce Center with distribution needs in the South Johnson County area will find it has convenient access to the nearby BNSF Intermodal Facility in Edgerton, KS. Industrial developers added 7.3 million square feet of space in the region since the start of 2015, and net absorption has totaled about 6.6 million square feet over that same period of time, according to a recently-published report by Cushman & Wakefield . “The Johnson County submarket has been the driver in the recent construction boom and currently has about 3 million square feet of speculative space under construction.” Opus Development Co., LLC. will be the developer, Opus Design Build, LLC will be the design-builder and Opus AE Group, LLC will be the architect and structural engineer of record. Joe Orscheln and Mike Mitchelson with CBRE will market the property for lease.

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