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Friday, March 24, 2017
Capstone Awards 2017: Industrial – Lenexa Logistics Centre North Building 1

  

Location: 17700-17790 College Blvd., Lenexa

Size: 1.3 million square feet

Lenexa Logistics Centre North Building 1

Value:$34 million

Players: Block Development Co., developer; Block Real Estate Services LLC, broker; Polsinelli PC, law firm; Finkle + Williams Architecture, architect; Shafer Kline & Warren, Geotechnology Inc., engineers; Wells Fargo, financier; ARCO National Construction-KC Inc., general contractor

Description: Lenexa Logistics Centre North Building 1 is the first of four buildings planned on more than 80 acres north of College Boulevard in Lenexa.

Features: The facility is a 635,800-square-foot industrial cross-dock building with a 36-foot height clearance on nearly 31 acres. The location offers access to Interstates 35 and 435 and Kansas Highway 10.

“It’s a valuable location,” said Ken Block, managing principal of Block Real Estate Services LLC. “This is an opportunity for people to do business and create jobs closer to where employees are located.”

What’s next: An identical building is planned to the north on the same site, Block said, and will begin construction when leasing of the first building “reaches a certain level,” probably by late summer. The recently completed logistics facility was built on a speculative basis and doesn’t have any tenants yet.

Two more buildings, which Block described as “office, warehouse and showrooms,” also are planned for the site and will serve as the “front door of the project” on College Boulevard, he said.

Block also is developing an adjacent site, which already has three buildings completed — including the Amazon fulfillment center — and a fourth under construction. Block said a total of eight more buildings could be constructed on the two sites.

Community impact: College Boulevard has been upgraded to a four-lane, divided roadway to handle an expected increase in freight traffic.

Challenges: Block said the site presented barriers due to its rocky terrain and changes in elevation.

“These are very costly properties to develop,” Block said. “Lenexa offered economic incentives that allowed us to spend a great deal of money to turn cost-prohibitive, unusable sites into usable sites.”

— David Mitchell

Source: Kansas City Business Journal 

http://www.bizjournals.com/kansascity/news/2017/03/24/capstone-awards-2017-industrial-lenexa-logistics.html

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