Brian Olsen, vice president of operations with DBSI-Discovery, said the company seeks new stabilized income properties in growing markets. "The Overland Park market fits that criteria, demonstrating good demographics and growth. It's near Kansas City and has favorable income trends," he tells GlobeSt.com.
He says the Highlands property is 86% occupied, with tenants including Verizon and Massachusetts Mutual Life. The Southcreek III property is 77% occupied, with tenants including Accredo Health Group and Gentiva Health Services, Olsen says.
He would not reveal the purchase price or the lease rates of the properties. According to a CB Richard Ellis market report, the average lease rate in the Kansas City, KS area is $11.38 per sf, but has a 91.6% occupancy rate. The company represented Opus in the deal.
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