Need more evidence that the Kansas City area industrial real estate market is on fire?
NorthPoint Development has started construction on two new Class A buildings totaling more than 1.4 million square feet at Logistics Park Kansas City in Edgerton.
That's about the same amount of square footage as Oak Park Mall in Overland Park. But the mall's square footage is contained on two levels, so you'd have to double its footprint to imagine the scope of the massive one-story buildings NorthPoint is adding.
An undisclosed tenant has been secured for the majority of one of the buildings, a 760,000-square-foot project that NorthPoint had been planning to build on a speculative basis, meaning without any tenant commitments.
After the lease for that tenant was secured, NorthPoint decided to start construction on a neighboring 650,000-square-foot speculative building, said Patrick Robinson, a NorthPoint vice president.
The 760,000-square-foot building is being constructed at the southeast corner of 191st Street and Waverly Road, and the 650,000-square-footer will be immediately east of it.
"That will bring us up to 3 million square feet (at Logistics Park Kansas City) by the middle part of next year," Robinson said.
Article By: Rob Roberts- Reporter, Kansas City Business Journal
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