Cushman & Wakefield’s Rob Holland, CCIM, and Jack Goldsborough, CCIM, Represent Developer BCB Development at Southpark Commerce Center in Olathe
KANSAS CITY, July 21, 2023 – Cushman & Wakefield announced today that, representing developer BCB Development, the firm has leased 328,500 square feet in three transactions at Southpark Commerce Center in Olathe, Kansas, in the Kansas City metropolitan area.
Cushman & Wakefield’s Rob Holland and Jack Goldsborough represented Lenexa, Kansas-based developer BCB Development in each transaction at Southpark Commerce Center. The three-building, 382,500-square-foot speculative project delivered in December 2022 and now has only 54,000 square feet in Building C remaining.
At Southpark Building B, Lenexa-based United Rotary Brush leased the entire, 135,000-square-foot building and was represented by Joe Accurso with Cushman & Wakefield in Kansas City. United Rotary Brush consolidated its manufacturing and distribution at its new facility.
Additionally, Groundworks leased 112,550-square feet, the entirety of Building A, for manufacturing and distribution of foundation repair supplies and materials. Whitney Freeburn of Flowers Capital Holdings in Charlotte, North Carolina represented Groundworks in the transaction.
While Kansas City’s industrial market, which was 4.8% percent vacant at midyear, has experienced its share of blockbuster industrial leases of 500,000 to 1 million square feet in the past few years, the average industrial lease across the market is still under 50,000 square feet. Southpark Commerce Center was designed and developed to meet the needs of end users requiring +/- 75,000 square feet in a market with few options for these requirements that are closer to the norm.
“The market for small- to midsize deals of 50,000 to 250,000 square feet has been incredibly strong in Kansas City, with this size-range representing the majority of first-half 2023 transactions,” Goldsborough said. “With three buildings in the 100,000- to 150,000-square-foot size range, Southpark Commerce Center has been well positioned for current market conditions, having seen the majority of the project leased in the first half of 2023.”
Southpark Commerce Center is located at 404 Frontier Lane in Olathe, Kansas, and offers quick access to Interstate 35. The development offers 32-foot clear heights and 200-foot truck courts, with the remaining 54,000 square foot space at Building C offering both dock-high and drive-in loading doors.