Trammell Crow Company (TCC), in partnership with Clarion Partners, is pleased to announce the start of construction of a third building at the KCI Intermodal BusinessCentre. LogisticsCentre IV will consist of 432,640 square feet of speculative Class A light manufacturing/warehouse/distribution space situated on approximately 26 acres at KCI Intermodal BusinessCentre. The building is scheduled for completion in March 2016. LogisticsCentre IV is designed to accommodate up to three tenants, each with their own distinctive entrance.
Market activity for warehouse/distribution space remains strong for companies requiring large blocks of space 200,000 square feet and larger. Demand for industrial space in the Kansas City Metro continues to be driven by a strong automotive manufacturing commitment from GM and Ford, plus significant investments in rail intermodal facilities at BNSF and Missouri Southern. Other key industries expanding in the KC Metro include E-commerce, construction, and agricultural equipment distributors.
KCI Intermodal BusinessCentre is a 687-acre master-planned business park located on KCI Airport property with runway access. Phase I will comprise of approximately 182 acres that will support up to 1.8 million square feet of warehouse/distribution centers, traditional office/warehouses, and light manufacturing facilities. Construction of all phases will total approximately 5.4 million square feet and may eventually include air cargo and air freight facilities adjoining two runways at KCI Airport.
The total value of the development at KCI Intermodal BusinessCentre is projected to exceed $216 million when completed. To encourage job creation, KCI Intermodal BusinessCentre offers economic incentives such as Foreign Trade Zone and Missouri Enhanced Enterprise Zone designations. The project is located at the crossroads of I-29 and I-435 and offers access to the interstate highway system via a fully-directional interchange at NW112th Street to the north and a “Diverging Diamond Interchange” recently completed at Tiffany Springs Parkway to the south.
“Several years ago the Aviation Department embarked on an ambitious plan to spur aviation and non-aviation related development at KCI Airport to attract greater numbers of well-paying jobs to the area,” said Mark VanLoh, director of the Aviation Department. “Securing Blount International as the first tenant at KCI Intermodal BusinessCentre was a huge step forward in implementing that plan. This was followed by LogisticsCentre II which was successfully leased prior to completion and expanded for a Tier One GM auto supplier who now occupies the entire 423,000 square feet in LogisticsCentre II. This most recent GM-supplier project validates the KCI/Northland submarket as a key component to overall Kansas City industrial market that is bringing high paying, diverse jobs to the entire metropolitan area.”
Clarion Partners and TCC have formed a joint venture to develop the KCI Intermodal Business Centre, continuing a relationship that has developed a number of successful projects over the years. Clarion Partners has been a leading U.S. real estate investment manager for almost 30 years. With more than $22 billion in total assets under management for more than 200 institutional investors both domestic and international, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum – from core to core-plus and value-added to opportunistic. The firm, which is headquartered in New York, has a presence in major markets across the United States, Mexico and Sao Paulo, Brazil. Clarion Partners invests in some of the highest quality properties, typically from the five key property types – office, retail, industrial, multifamily residential and hotel.
“The launch of LogisticsCentre IV is needed to meet the demand for new distribution/warehouse space from tenants that don’t have the time to wait for a build-to-suit facility,” commented Andy Lowe, Senior Vice President of Clarion Partners. “You have to have product (space) available for tenants that may need to move in within a few months after selecting a location. We look forward to continuing our long-standing partnership with the Trammell Crow Company.”
Jim Didion, leader for TCC’s St. Louis office says, “LogisticsCentre IV is designed to accommodate more sophisticated distribution operations such as Blount International and the Tier One automotive supplier now doing business in LCII. We are pleased to offer Class A spec distribution space to continue to attract warehousing and manufacturing operations, and the jobs they bring, to the Northland.”
CBRE is providing marketing and property management services for the KCI Intermodal BusinessCentre.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2015, TCC had $6.0 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.