Townsend Capital invests millions in Lee's Summit infrastructure

Developer Townsend Capital has invested $10 million in infrastructure improvements to the area surrounding its $200 million, 80-acre development in Lee's Summit's Chipman Road corridor. The goal, according to Townsend Capital's Steve Rich, is to set the project apart by making it shovel ready for commercial use and development-all without the use of public incentives.

"The entire project area is better off for having new roads, new curbs, sidewalks," Rich said. "Seeing this project through to completion has been almost a decade's work in progress. We cannot wait to see how it continues to take shape..." 

The investment includes construction of the new $4.5 million Innovation Parkway and expansions of nearby Ward and Donovan roads, as well as new water, sanitary and storm sewer lines, and other improvements.

Lee's Summit City Manager Steve Arbo sees big economic development opportunity in the corridor, which city leaders previously identified as a prime undeveloped area requiring significant infrastructure investment to reach its full potential.

"These investments remove the obstacles that prevented this targeted area from becoming viable for economic growth," Arbo said.

More than $100 million in projects are under construction at the site, including the Missouri Innovation Campus building, Summit Square apartments and Holiday Inn Express. With more than 33 acres sold, 124 acres of zoned, improved acreage remain available for commercial development. Visit Townsend Summit.com for additional information.

Fishtech headquarters brings startup culture to Martin City

Fishtech opened its new Martin City headquarters with a celebratory champagne toast rather than the traditional ceremonial ribbon cutting. Then again, there's nothing traditional about the new 20,000 square foot, $10 million building constructed by AL Huber. 

Featuring doors with special glass that can be shaded for privacy with the press of a button, a special "sleeping pod" for employees, and customized greetings and company details courtesty of Pepper the Robot, just about every feature of the space was personally recommended and approved by Fishtech Founder Gary Fish. 

Fishtech offers cloud managed security services designed to protect corporate data and expects to hire 100 employees by the end of the year. The company plans to further expand its presence in Martin City with construction of a new 20,000-square foot Cloud Security Operations Center on the north end of its headquarters.

Midwest Gateway groundbreaking signals new industrial product for booming Edgerton

The threat of a severe thunderstorm couldn't stop heavy equipment from firing up at Wednesday's official groundbreaking for Midwest Gateway, Copaken Brooks' half-million square foot speculative industrial building in Edgerton. 

Midwest Gateway will be marketed to users seeking between 50,000 and 300,000 square feet, providing an alternative to the so-called "big bomber" industrial projects of over 500,000-1 million square feet that are the hallmark of NorthPoint Development's adjacent Logistics Park Kansas City, according to NAI Heartland's Russell Pearson.

"This is the first project of its kind in Edgerton that will be designed for 'smaller' users, small being relative, I suppose," said Pearson, who is co-brokering the project along with Nathan Anderson and Bucky Brooks. "We will be targeting distribution, manufacturing, and warehousing users who understand what drayage savings means for their businesses; as well as providing the opportunity to own or lease a custom-built facility in an irreplaceable location."

Located near the entrance to the BNSF Intermodal rail hub and virtually across the street from a newly announced UPS distribution hub, Midwest Gateway is poised to leverage the intermodal's advantages to help tenants reduce operating and drayage costs and maximize supply chain efficiencies thanks in part to proximity along I-35's heavy haul corridor.

"The supply and demand drivers for this size of building are unmet at the BNSF Intermodal," said Aaron Schlagel, vice president, development at Copaken Brooks. "The buildings allow flexibility for industrial users who need a more efficient building footprint and increased operational efficiencies due to Midwest Gateway's unique locational benefits."

Midwest Gateway marks Copaken Brooks first foray into speculative industrial development. Construction will be completed by early 2018.

"We are excited to deliver Midwest Gateway to the burgeoning Kansas City logistics and distribution market," said Bucky Brooks, principal at Copaken Brooks. "Midwest Gateway is an ideal project for us to extend our infill development expertise and deliver a state-of-the-art industrial project on a premiere site at the heart of the BNSF intermodal."

The buildings will feature tilt-up concrete walls and architectural glass, a minimum 32-foot clear height, 7” floor slab and T-5 motion sensor lighting. Accommodating multiple industrial uses, the buildings will have ample docks with the ability to expand, plus truck parking and trailer storage.

Project team members include GMA Architects, ARCO National Construction, Shafer, Kline & Warren, Krudwig & Associates, and Metro Air. Interested parties click here, or email Russell@NAI-Heartland.com for more information.

Insight: How business leaders drove Lee's Summit's $16 million interchange investment

Reconstruction of the 40-year-old bridge and interchange at Route 291 South and U.S. 50 in Lee's Summit has been a long-standing priority for the business community. 

Its bottlenecks and congestion actually led Chip Moxley, owner of Tingle Flooring, to choose a location farther north for his headquarters. Going through the site selection process enlightened Moxley that prosperity for south Lee's Summit would be held hostage until the intersection was improved. As a result, Moxley joined forces with the Gateway Business Alliance to lobby for public awareness and investment in transportation projects.

"This interchange is among the most important initiatives we have undertaken, and it is hugely gratifying to finally break ground on this project," Moxley said at the recent groundbreaking for the $16 million, taxpayer-funded diverging diamond project, which includes reconstruction of the Route 291 overpass bridge and an adjacent roundabout.

The interchange won't be completed until late 2018, but Lee's Summit Economic Development Council President and CEO Rick McDowell said its benefits from a business recruiting standpoint are immediate.

"This project opens up hundreds of acres for commercial development," McDowell said. "With The Grove mixed-use development to the southeast slated to begin spec industrial construction this year, and Pinetree Plaza shopping center on the northwest quadrant targeted for redevelopment, this new interchange truly will serve as a new gateway to the south side of Lee's Summit."

The interchange also will help ease congestion through a heavily traveled residential and commercial route while enhancing safety and improving access for pedestrians and cyclists, according to Lee's Summit Mayor Randall Rhoads. 

Radmacher Brothers Construction based in Pleasant Hill, Mo., is providing general construction services for the project, and GBA Architects and Engineers of Lenexa, Kan. provided engineering and design services. Additional project partners include the Lee's Summit Chamber of Commerce, Downtown Lee's Summit Main Street, and Friends of Lee's Summit.

The interchange is funded through a three-part cost sharing agreement, with the City of Lee's Summit paying $8 million; the US Department of Transportation paying $6.8 million through funds secured through the Mid-America Regional Council; and the Missouri Department of Transportation paying the remaining $1.22 million.

Behind the Deal: ‘Speed to market’ tipped Terracon build-to-suit

Timing played a key role in Terracon’s decision to build its new $21 million corporate headquarters in Olathe rather than relocate to existing office space in the region. With 10 to 15 percent annual growth, the engineering consulting firm needed space to fit new employees that it expects to hire to accommodate burgeoning business.

John Coe of Copaken Brooks worked as Terracon’s corporate real estate advisor and says the company had a need for speed.

“We started in June of last year and did an exhaustive search of opportunities throughout the metro,” Coe said. “‘Speed to market’ would be one way to describe it.”

Terracon plans to be in its new 65,000-square foot, two-story headquarters in the first quarter of 2018, but getting to the deal's finish line took some rapid legwork on the part of the multiple parties.

The company began evaluating headquarters options in July 2016, looking at 11 existing buildings and 18 build-to-suit options in Kansas and four existing buildings and two build-to-suit options in Missouri.

By December, Terracon narrowed down its list to three existing properties-- two in Kansas and one in Missouri-- but ultimately determined its preference was to stay in Olathe, its headquarters home for more than decade. With no available existing buildings to accommodate the company’s growth, moving forward with a build-to-suit emerged as the preferred course of action.

“It was a long shot that a build-to-suit option would come through because timing was tight,” Coe said. “But VanTrust stepped up and proved they could work within that time frame.”

VanTrust Real Estate and Terracon wasted no time in requesting project incentives from the City of Olathe, which approved a 10-year, 65 percent property tax abatement, as well as industrial revenue bonds that allow for a sales tax exemption on construction-related materials.

Terracon won’t have to move far; its new headquarters will be in Corporate Ridge Office Park near Kansas Highway 10 and Ridgeview Road, just around the corner from its existing office at 18001 W. 106th.

“This investment represents the passionate commitment of our employee-owners to progress our growth," Terracon President Swaminathan Srinivasan said in a release. "Inspired by new surroundings, we will focus our future on serving clients in new, innovative ways and seeking out opportunities to make positive impacts on the communities where we live and work.”

The project’s development team includes property owner VanTrust, which will lead the design-build team, as well as McCownGordon Construction, general contractor.

Terracon provides environmental, facilities, geotechnical and materials services from more than 140 offices serving all 50 states.