The commercial real estate firm Hunt Midwest expects to begin construction next year on the first of more than two dozen buildings on 3,300 acres of land that Hunt Midwest has assembled adjacent to Kansas City International Airport.
Hunt Midwest recently closed on the acquisition of 1,300 acres that are contiguous with roughly 2,000 acres it already owned. Hunt Midwest intends to invest close to $1.3 billion over the next decade to develop and build on this land 18 million sf of Class A logistics and manufacturing spaces. City approvals and building designs are pending.
In response to questions from BD+C, Hunt Midwest stated that it anticipates 27 industrial buildings on the site, ranging from 189,000 sf to 1.14 million sf. Buildout, said the developer, will be a phased approach based on market demand, with a mix of spec and build-to-suit inventory planned.
Olsson has completed the project’s initial civil design. The vertical construction team will be selected at a later date, said Hunt Midwest. 2023 is also when the airport’s new single terminal is scheduled for completion.
A TRANSPORTATION HUB
“We saw this acquisition as a good strategic move to augment the unprecedented industrial growth that Kansas City is experiencing,” said Ora Reynolds, Hunt Midwest’s President & CEO, in a prepared statement. “Disruptions in the global supply chains have driven the need to store more inventory closer to the end consumer and to re-shore manufacturing back to the United States. We hope to capitalize upon these demand drivers with some big ‘wins’ right here in Kansas City.”
KCI 29 Logistics, as this development has been dubbed, would be the largest logistics park in the state of Missouri. It will provide immediate access to the airport’s air cargo operations, which includes hubs for UPS, FedEx and USPS; and to Interstates 29 and 435 via the Mexico City Interchange. The park will offer users the ability to reach 90 percent of the U.S. population within two days via truck or air freight. Area infrastructure includes onsite transmission level power, a transmission waterline, and wastewater treatment plant.
“In addition to Kansas City’s desire to serve our region’s flying public, our investment in a new airport terminal was also meant to spur new economic activity in underdeveloped areas surrounding KCI,” said Quinton Lucas, Kansas City’s Mayor. “I’m glad to see these efforts materialize, and I appreciate Hunt Midwest’s partnership in these job-creating efforts.”
Related Stories
| Dec 19, 2011
Survey: Job growth driving demand for office and industrial real estate in Southern California
Annual USC Lusk Center for Real Estate forecast reveals signs of slow market recovery.
| Nov 22, 2011
Saskatchewan's $1.24 billion carbon-capture project
The government of Saskatchewan has approved construction of the Boundary Dam Integrated Carbon Capture and Storage Demonstration Project.
| Oct 3, 2011
Balance bunker and Phase III projects breaks ground at Mitsubishi Plant in Georgia
The facility, a modification of similar facilities used by Mitsubishi Heavy Industries, Inc. (MHI) in Japan, was designed by a joint design team of engineers and architects from The Austin Company of Cleveland, Ohio, MPSA and MHI.
| Apr 12, 2011
Mitsubishi commissions electric power manufacturing plant in Memphis
Greenville, S.C.-based design and construction firm O’Neal Inc. is providing design, engineering, procurement, and construction services for Mitsubishi Electric Power Products.
| Feb 23, 2011
Data center trends: green design, technology upgrades
While green data centers will continue to be a trend within the industry, technology is also driving infrastructure upgrades that have never been seen before, according to the 2011 Data Center Technical Market Report from Environmental Systems Design. The report also includes an overview of the national data center market, construction costs, blackouts and disaster prevention, and site selection.
| Jan 4, 2011
Grubb & Ellis predicts commercial real estate recovery
Grubb & Ellis Company, a leading real estate services and investment firm, released its 2011 Real Estate Forecast, which foresees the start of a slow recovery in the leasing market for all property types in the coming year.
| Nov 29, 2010
Data Centers: Keeping Energy, Security in Check
Power consumption for data centers doubled from 2000 and 2006, and it is anticipated to double again by 2011, making these mission-critical facilities the nation’s largest commercial user of electric power. Major technology companies, notably Hewlett-Packard, Cisco Systems, and International Business Machines, are investing heavily in new data centers. HP, which acquired technology services provider EDS in 2008, announced in June that it would be closing many of its older data centers and would be building new, more highly optimized centers around the world.
