The Kansas City industrial real estate market continues to grow at a healthy clip. But Patrick Robinson foresees a quantum leap driven by the intermodal facilities nearing completion in the region.
Robinson, vice president of development for NorthPoint Development, said intermodal will be “an absolute game changer” for the market. And a new market report from Colliers International’s Kansas City office agrees.
According to the report, the Kansas City area’s 235.7 million-square-foot industrial market benefited from 1.78 million square feet of absorption in the first quarter, lowering the vacancy rate to 6.1 percent from 7.4 percent a year ago. In addition, Colliers reported, 2.1 million square feet of new industrial space was under construction in the quarter.
But you haven’t seen anything yet, the Colliers report and Robinson said…