The center will be built in the Skyport Business Center, which is next to the Kansas City International Airport. First Industrial bought 40 acres of the 166-acre park for this development. The site, which will be leased by Pure Fishing, has enough space for a possible future expansion up to 600,000 sf. The average lease rate for this area is about $3.01 per sf, according to a Grubb & Ellis report.
Keith Stauber, senior regional director for the REIT, tells GlobeSt.com that the tenant wanted the site because of its central US location. "It gives them a better ability to improve turnaround time to a three-day period," he says. "The fishing retailers really operate on a weekend basis. The company wants to be able to take the orders from the retailers at the end of one weekend, and have the product delivered to the retailer by the following weekend." He would not comment on the cost of the facility.
He says the nearness of the airport and the new Centerpoint-Kansas City Southern Railway Co. intermodal center is also a factor, as the company gets a lot of products from overseas. "Kansas City is really getting on the map in regards to the intermodal, there's a lot of related development taking place," Stauber says. Jim Belcher with the Hart Corp., Jerry Fogel with Kessinger/Hunter & Co. and Mark Sonnenberg with Colliers Turley Martin Tucker assisted on this deal.
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