Top Real Estate Deals 2016: Northland Park

NorthPoint Development plans to develop 4.3 million square feet of space in Northland Park, an industrial area adjacent to Norfolk Southern’s Kansas City Intermodal Terminal and a few minutes southeast of Ford Motor Co.’s Kansas City Assembly Plant in Claycomo.

Located three miles east of Interstate 435 along Missouri Highway 210, Northland Park already is home to large facilities for Musician’s Friend, FedEx Ground, FedEx LTL and WW Grainger.

NorthPoint will begin the project with a 389,000-square-foot warehouse built on a speculative basis, meaning before a tenant is secured. It already is entertaining a couple of Northland Park prospects, including one that would employ 1,000, Brent Miles, NorthPoint’s vice president of economic development, said in June.

If employment by Northland Park’s tenants ends up being similar to that of NorthPoint’s Riverside Horizons project, Miles said, total employment could be 4,200 to 4,500 — more than double the current conservative estimate of 2,000.

To support the project, Port KC voted unanimously to issue as much as $250 million in taxable revenue bonds.

NorthPoint plans to establish a Center for Advanced Professional Studies — or CAPS — partnership with North Kansas City Schools. The CAPS program would have a logistics career focus.
Area of the metro: Northland

Value:$250 million

Player: NorthPoint Development

Status: Construction on Building 1 is set to begin in December

read the full article >>