KANSAS CITY—The Opus Group has just started construction on the second building for its 56 Commerce Center, a master-planned industrial park in the suburb of Olathe, KS. One of the factors motivating the Minneapolis-based developer to greenlight the new 230,122-square-foot speculative industrial building was the recent completion and quick sale of a similar building, the park's first, to Orizon, a manufacturer for the aerospace and defense industry.
“They came in with a plan for tremendous job growth,” Joe Downs, vice president, real estate development, Opus Development Co., LLC, tells GlobeSt.com. “That momentum was very valuable to us. It helps bring validity to the value proposition of the park. And it's a signal to others that this is a great place to do business.”
The Kansas City region's industrial market is firing on all cylinders. Developers have finished millions of square feet of spec space in the past couple of years, and Olathe and surrounding Johnson County have become particular favorites.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
