Kessinger Hunter has arranged a 253,440-square-foot, full-building lease renewal at one of DRA Advisors’ industrial properties in Olathe, Kan.
Principal Dan Jensen and Associate Broker Kurt Jensen negotiated on behalf of the owner, while Ed Elders, president of Colliers International’s Kansas City office, assisted the tenant, Schlage Lock Co.
Located on a 12-acre parcel at 2110 E. Kansas City Road, the building was completed in 1998. The property features a 15.4 percent office build-out, one grade-level and 30 dock high doors, as well as 210 parking spaces. The tenant, a manufacturer of commercial and consumer locks, will occupy the facility on a long-term lease.
The property changed hands in December 2019, when Sealy & Co. sold it to DRA Advisors in a $908.5 million portfolio transaction. The deal included 106 warehouses encompassing 16.3 million square feet of logistics space in 16 markets across the Midwest, Southeast and Southwest.
The site is a short distance from Interstate 35, which also provides access to Interstate 435. The building is approximately 19 miles southeast of Kansas City, Mo. Other companies with a presence in the I-35 industrial corridor include Deluxe Corp., Tradewind Energy and Amazon.
In October, Amazon started work on a 2 million-square-foot expansion in Kansas. The company will develop two new fulfillment centers in the state—one in Kansas City and the other in Park City.