Sprint HQ buyer Occidental eyes acreage adjacent to OP campus

Wichita-based Occidental Management expects to close on the Sprint Campus in the next 30 days. CEO Gary Oborny and President Chad Stafford talked with MetroWire Media about what led to the acquisition and plans for the sprawling Overland Park campus and adjacent land.

MWM: When did you first become interested in buying the Sprint campus?

Oborny: We heard that Sprint was looking at divesting at some point, so we started following opportunities to get closer to the situation and look at how we might connect on a potential deal. We sat back while Sprint figured out what to do. Then we contacted Cushman & Wakefield when the property was placed with them for a national search last year.  

MWM: How did your 2014 purchase of the former Overland Park International Trade Center (OPx) adjacent to the Sprint campus play into the acquisition?

Oborny: OPx was our introduction into the market. It helped us build relationships in Kansas City and Overland Park, so the Sprint campus was a natural fit. 

MWM: What is your short-term game plan for the campus?

Oborny: We want to enhance existing amenities and bring additional amenities for tenants who want to be on the campus. There are a number of cafeterias and food venues, so we will look at bringing in guest chefs and maybe freshening those spaces. We’re also looking at conceptual ideas to improve the overall aesthetics of the campus, so we will be look at revitalizing existing buildings to make them a little more contemporary... Eventually we’ll undergo a full rebrand of the campus. 

MWM: What will Sprint’s ongoing presence be?

Stafford: Sprint will continue to be the largest tenant, and the company is making a commitment to Kansas City with a long-term lease situation, but that’s all we can say right now. Sprint and Occidental are both focused on recruitment and retention of associates and employees on the campus. 

MWM: What is the current tenant mix and how do you see that changing?

Stafford: There’s a good mix right now between health care and financial services companies. There is also good infrastructure for technology-related companies, so there is opportunity there. 

MWM: What additional opportunities do you see? 

Oborny: We are looking at the 60 acres near 119th and Nall that have never been opened to commercial development. We see an opportunity to bring amenities to that vacant land such as hotel, restaurants and retail, but for right now we have to close. 

MWM: This is a huge transaction. What’s next for Occidental?

Oborny: Yes, it’s a big opportunity. We see a natural progression for us in Midwest cities, so development opportunities in the $100-$300 million range are certainly always of interest.

JPMorgan Chase will open full-service bank in former Dean & Deluca space

The former Dean & Deluca space at Town Center Plaza in Leawood, Kan. will find new life as a full-service retail bank, part of JPMorgan Chase's push into the Kansas City market and deeper into Bank of America markets.

The largest bank in the U.S. has signed a lease to expand into the 9,000-square foot former gourmet food purveyor located at the northwest corner of Roe Avenue and 119th Street. An exact opening date is unclear.

Scott K. Miller and Adam Blue of AREA Real Estate Advisors brokered the lease on behalf of the building's owner. The deal comes less than a year after the prime retail outparcel adjacent to Town Center Plaza hit the market.

"We had a lot of interest from premier retailers due to its high-profile location," Miller said. "Everything from restaurants to service retailers and soft goods retailers looked at the space. Ultimately the best fit for everybody ended up being JPMorgan Chase."

Jeff Berg and Coleby Henzlik of Colliers International represented JPMorgan Chase in the transaction.

Last week, JPMorgan Chase announced plans to open its first full-service Kansas City area locations in 2019, with up to 15 branches in the works, according to The Kansas City Business Journal.

McCarthy Building Companies celebrates WIC Week 2019

McCarthy Building Companies celebrated Women in Construction Week 2019 by highlighting four female professionals working on high-profile construction projects. Here are some career insights from McCarthy's KC female pros:

"I love seeing a project through. This is huge project and there are hundreds of little projects within it and being able to see all of your hard work transpire into something that makes the Tomahawk Creek water treatment plant function is - awesome." -Taylor Meulemans, project engineer, Tomahawk Creek Wastewater Treatment Facility Expansion project

"I've worked on healthcare jobs and schools and now wastewater treatment. There are still those same fundamentals that everyone learns but you can learn so much more. There's always something new to learn and someone to teach you." -Devon Murray-Mazany, Tomahawk Creek Wastewater project

"Not a lot of medical examiner facilities are being built so it's a unique experience. It's a mix between a lab and a hospital and it's a cool project." -Autumn Swinson, senior project engineer, Johnson County, Kansas Medical Examiner Facility

"Construction is always changing. You can go from one project to the next and have the same job but it's totally something new and you get to learn new things." -Cara Greenley, project engineer, Tomahawk Creek Wastewater project 

A NAWIC initiative, the focus of WIC Week is to highlight women as a viable component of the construction industry.

Taylor

Game On takeaway: 'Were all technology firms. We just don't know it yet'

The Kansas City region's internationally acclaimed sports construction and AEC industry was the topic of MetroWire Media's Game On Sports and Entertainment Event on Thurs., March 7 at Children's Mercy Park. 

Here are some highlights from our star-studded lineup:

"The conversations we used to have are so outdated, it's amazing. Every year the conversation changes... The stuff that Silicon Valley is developing now will hit the sports industry in a couple years and it will blow your mind." -Andy Heitmann, VP Construction, Turner Construction.

"We're all technology firms. We just don't know it yet... Technology is impacting everything we do... From security to fan engagement, it's driving the fan and athlete experience." -James Dietz, AVP, Henderson Engineers.

“We have spent a lot of time developing sponsorship integrations that create great fan experiences. The idea is that venues and teams have opportunities within the built environment to tell stories using sponsor dollars as opposed to team’s dollars.” -Justin Wood, Partner, Dimensional Innovations

"The most important thing we can do is to create adaptable frameworks for buildings... 5G is on the way and that will transform the experience." -Kelly Holton, senior designer, Populous

"Engaging people with the live experience is our focus and challenge." -Jeff Sittner, Burns & McDonnell Sports Design Build team leader

"How do we take what we know about the fans and deliver what they want? It begins with knowing who is in the building." -Jason Houseworth, President, FanThreeSixty.

Special thanks to Sporting KC Executive Vice President John Moncke for serving as guest speaker and to our Platinum Sponsor, Turner Construction.

Click here to view a slideshow of our Game On event!

San Francisco multifamily investor enters KC market

San Francisco-based real estate investment firm Hamilton Zanze (HZ)  has acquired the 272-unit Metcalf Village Apartments in Overland Park, announcing plans to rebrand the complex at 16201 Travis St. as Boulders at Overland Park Apartments. 

"This community represented a great opportunity to buy new, stabilized product below replacement cost thanks to robust local market momentum," said David Nelson, HZ managing director of acquisitions.

Built in 2017, the 261,000-square foot community attracted the west coast investment firm in part because of its location in the nationally ranked Blue Valley School District. 

"Overland Park has been a target market for our acquisitions team, and we are excited to have found a perfect acquisition to fit our criteria," Nelson added. "We look forward to further growing our presence in Kansas in the years to come."

Boulders at Overland Park will offer a mix of one-, two-, and three-bedroom units well-suited for both single and family occupancy. HZ plans to upgrade the property's landscape and lighting. 

Property management responsibilities will be transitioned to Mission Rock Residential, a Denver-based affiliate company of HZ. The purchase closed February 28. For more information, click here.  

Will Mathews, Bob Galamba, and Gabe Tovar of the Colliers East Region Group facilitated the transaction. The community was sold by JA Murphy Group and purchased by Hamilton Zanze.

Since 2001, Hamilton Zanze has acquired over $3.3 billion in multifamily assets in 14 states across the U.S. The company currently owns and operates 83 properties with over 19,000 units.