With strong leasing activity at the Hunt Midwest Business Center in Kansas City, Missouri, both HMBC Logistics I and II are now 100 percent leased. This momentum has triggered the start of construction on HMBC Logistics III and the permitting of HMBC Logistics IV.
“Our central location, scalable footprint, strong workforce, excellent highway access, and 100% real property tax abatement for 25 years have resulted in just under 200,000 square feet of leases signed in the last 8 months. This has prompted us to move forward with 650,000 square feet of additional speculative building inventory,” said Ora Reynolds, president and CEO of Hunt Midwest, in a statement.
HMBC Logistics III, a 217,783-square-foot, 32-foot clear height building with an adjacent 3.45 acres of secured, outside storage, is under construction with occupancy in March 2019. HMBC Logistics IV, a 425,000-square-foot cross dock facility with 36-foot clear height, will be available in May 2019.
Hunt Midwest Business Center is within an Enhanced Enterprise Zone (EEZ), offering qualified companies a 25-year, 100-percent real tax abatement based on investment and job creation.
The following new HMBC tenants qualified for 100% real tax abatement:
Vanguard Packaging and Great Plains Packaging are leasing 100,890 square feet in HMBC Logistics I. This is an expansion of their current facilities within the SubTropolis Business Center.
Online Labels opened a 37,888 square foot regional manufacturing and fulfillment center in HMBC Logistics I as its first Midwest location.
Wurth DMB opened a 27,164 square foot regional distribution center in HMBC Logistics II to expand its industrial fastener division in Kansas City.
Voss Lighting has leased 27,257 square feet in HMBC Logistics II to expand its presence in Kansas City.