Sumner Investment, L.L.C., a local partnership arranged by Jones Development, recently acquired a manufacturing and distribution facility in Johnson County, KS. The warehouse is situated on 17.71 acres in the New Century AirCenter, with close access to I-35.
As part of Jones Development’s newly created value-add portfolio, the facility is currently undergoing capital improvements and being offered for lease or sale, divisible as small as 100,000 SF.
The entire building includes 311,100 SF, with 12,000 SF of office space and 22’ – 26’ ceilings. The facility includes 36 dock doors, six drive-in doors and over four acres of paved, fenced and lighted outside storage for product or 95 trailer parking stalls.
“Jones Development has been developing, buying, selling, and managing industrial properties since the late 80’s,” said Chris Jones, executive vice president of investments at Jones Development. “The main difference today is that we are looking to aggressively expand this side of our business by forging some new, external relationships and pursuing more value-add facilities similar to Sumner.”
As part of their emphasized investment efforts, Jones Development also hired Cameron (Cam) Duff in March as vice president of investments.
Locally, Jones Development is also developing the master-planned Olathe Commerce Park, a new industrial business park occupying 66 acres at Dennis Avenue and South Grant Street, near KS Highway 7 and I-35.
Additionally, Jones recently completed a 99,600 SF speculative warehouse in Shawnee, KS, repurposed and sold a 88,000 SF facility in Riverside, MO, acquired a 2.5 acre parcel of land in Riverside, MO for future development, purchased two parcels of land at the intersection of Troost and Truman, and is investing with other local developers. Beyond the area, Jones is underway on several build-to-suit industrial development projects.