Kansas Firm Buys Sprint 4 Million SF Campus
Occidental Management has officially closed on its purchase of the sprawling Sprint headquarters campus in Overland Park. The 190-acre corporate campus was sold by Sprint, an announcement made back in March.
Sprint will still operate its headquarters at the Class A campus, but the deal will involve Occidental leasing back to Sprint the areas of the campus the company still occupies. This particularly includes the southern portion of the campus, according to Occidental. Occidental plans to make upgrades to parts of the campus and will announce more details later. Sprint will reportedly relocate from 11 buildings it currently occupies to four surrounding buildings on the campus, according to a Nasdaq article from earlier this year.
This deal comes amidst rumors that Sprint’s merger with T-Mobile is close to being approved. According to the Kansas City Star, once details of the merger are finalized, T-Mobile plans to maintain a second headquarters at the campus.
The 3.9 million-square-foot campus was built in four phases over the span of about 4 years starting in 1998.
Top 5 Multifamily Developments in Kansas City Announced
In the last year, developers added new rental units totaling roughly 3 percent of Kansas City’s multifamily inventory. Both rent growth and occupancy were affected by this unprecedented level of activity, but strong construction activity continues in the market’s urban areas.
While roughly one quarter of the 6,000 units underway are located in downtown Kansas City, several notable suburban areas have significant developments moving forward. Due to the vast amount of office space located in or near Overland Park, multifamily developers targeted the neighboring submarkets with some of the metro’s largest projects.
This project is located at 8961 Metcalf Ave. in Overland Park near a bustling retail district at the intersection with 91st Street. The property also contains 65,300 square feet of retail, some of which is already operational. Amenities at the facility will include about 3 acres of gated outdoor space, a yoga studio and a multi-level parking structure.
4. PARKVIEW TOWNHOMES
These townhomes are located 22071 W. 124th Terrace in the southern part of the metro. The project contains a mix of two- and three-bedroom units with garages underneath.
3. SONOMA HILL
The luxury property’s location at 8875 Maurer Court is set to capitalize on employer growth in the area. The lavish offerings of Sonoma Hill include an array of amenities for residents to enjoy. Among them are a saltwater zero-entry pool, outdoor grilling, fire pit and lounge area, private fenced dog dark with agility equipment, fitness center with cycling studio, cyber café and pub room.
This development is situated alongside the Crown Center entertainment district, an area which has seen its share of construction in recent years. Plans call for a mix of studio, one-, two- and three-bedroom apartments, and the community’s amenity mix will include 8,000 square feet of retail space, a dog park, a catering kitchen, conference space and valet trash collection.
1. CYAN SOUTHCREEK APARTMENTS
This 17.7-acre development site for the community’s seven buildings is on the southern end of DDI Commercial’s 17-building Southcreek Office Park. Residents will enjoy luxury living by lounging around the resort-style pool, getting social in the indoor and outdoor entertaining areas, or by getting energized in the high-endurance fitness center.
MAC is a contractor Kansas City property and facility managers have trusted for more than 25 years. MAC can help you with any facility repairs, remodeling, custom cabinetry, construction and many other projects