Bushnell Signs for 221,800 SF in Olathe
Sun Life Attracts Another Major Tenant at 602,000-SF Spec Bldg.
October 28, 2009
Bushnell Inc. leased 221,800 square feet of distribution space at 22101 W. 167th St. in Olathe, KS. The company will start its move in process next month and be fully operational by the end of the first quarter of next year.
The move allows Bushnell to consolidate two of its three current locations. It will close out its 100,000-square-foot space at Meritex Executive Park as well as its 94,705-square-foot space in the Nieman Business Park, Building D, in the second and third quarters of next year, respectively. The Nieman space, which is a modern bulk industrial building, is on the market now and could accommodate users up to 157,000 square feet (full building). Bushnell will continue to occupy its corporate headquarters facility on Cody in Overland Park.
The 601,829-square-foot building at 22101 W. 167th was constructed last year on spec and is in the Olathe Industrial submarket. Bushnell will join FedEx Smartpost, which leased 126,357 square feet in June. There is 250,000 square feet available in the building, between the FedEx and Bushnell spaces.
Block Real Estate Services, as Bushnell’s agent, went through an extensive site selection process that covered both existing and build-to-suit options throughout the entire Kansas City metro area. After weighing all of the factors, including timing, freight and transportation through distribution channels, the financing sector, and all of the available sites and buildings, it selected the 167th Street facility to consolidate its distribution. As part of the process, Bushnell became the first company to obtain Foreign Trade Zone status for its company as opposed to a single facility or location, and will transfer that status with its move to Olathe.
"This bodes well for the I-35 corridor, from 159th Street south, as it is another indication that this area will continue to see further and accelerating growth," said Kenneth Block of Block Real Estate Services LLC, who along with Michael Block represented Bushnell.
Joe Accurso and Dan Jensen of Kessinger/Hunter & Co. L.C. represented the owner, Sun Life Assurance.