Kansas City, Missouri

The vacancy rate in the Kansas City area’s 188 million-square-foot industrial market rose to 8.1 percent at the end of September, up from 5.3 percent a year earlier, Colliers Turley Martin Tucker's Kansas City office said Monday.

The area’s vacancy rate was 7.5 percent at the end of the second quarter, Colliers Turley Martin Tucker said in a third-quarter report.

Construction of new industrial projects completed during the third quarter totaled 432,000 square feet, the report said. This was more than the area produced during the first half of the year combined but still a low volume, Colliers said.

Three projects accounted for 406,000 of the third-quarter total: a 215,000-square-foot build-to-suit facility for O'Reilly Auto Parts, a 51,000-square-foot build-to-suit for Global Industries and a 140,000-square-foot expansion of a Bank of America data center.

By the end of the year, Colliers reported, a 1.1 million-square-foot distribution center will be completed for Coleman Co. in Gardner. After that, there may be less than 100,000 square feet under construction for the entire market, the report said.

About Colliers Turley Martin Tucker

Colliers Turley Martin Tucker has consolidated its ownership with Cassidy & Pinkard Colliers, Colliers Pinkard, and Colliers ABR, forming a holding company that is one of the largest commercial real estate service firms in the U.S.  In 2008, the consolidated entity completed more than $9.2 billion in worldwide transactions, including over $3.5 billion in capital markets transactions.  Currently, the entity manages over 376 million square feet of real estate, and its Corporate Solutions division supports more than 22,000 locations for Fortune 1,000 companies, delivering a new location "Every 80 Minutes."  Colliers International is ranked as one of the 2009 World's Top 100 outsourcing providers by the International Association of Outsourcing Professionals, IAOP Top 100.  For more information about Colliers International, a worldwide affiliation of independently owned and operated companies, visit www.colliers.com.

Contact Information For more information, please contact Marketing Manager Kristin Brotherton at (816) 412-0204 or kbrotherton@ctmt.com.

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