New Century Business park expands, names master developer

New Century Business Park is expanding with the development of more than 845 acres on the north and east sides of the Johnson County Executive Airport.

The Johnson County Airport Commission (JCAC) recently recommended approval of a master development agreement naming VanTrust Real Estate as the master developer, with the Johnson County Board of County Commissioners (BOCC) subsequently approving that recommendation on October 8, 2020.

The proposed conceptual master plan contemplates having up to 6.5M SF of new vertical construction with a variety of building sizes up to 1.5M SF, along with approximately 150 acres of rail laydown yards.

Most unique about the development plan is that many of the sites have the ability to be rail-served. These proposed new facilities and improvements represent a private investment at the New Century AirCenter Business Park of $278,415,690 over the span of approximately ten years.

“Creating new economic development opportunities at the New Century AirCenter have been a long time coming,” said BOCC Chairman Ed Eilert.

“This is going to bring jobs and added revenue to Johnson County, which will help the county’s airports continue to be as self-sufficient as possible and not rely on tax dollars,” Ellert said.

As a statutory requirement, a cost benefit analysis of the proposed project was performed by the county which illustrated a positive return on investment for all taxing jurisdictions ranging from 33.3% to 387.5%. Property taxes on the new construction are projected to generate approximately $135,000,000 over the next 33 years, as compared to an estimated of up to $178,000 over the same time period under current conditions, according to a release.

According to Aaron Otto, executive director of JCAC, the benefits of this development include railyard improvements, approximately 2,675 new/permanent jobs, more than $672,813,505 in estimated payroll and an estimated 1,875 construction jobs with payroll earnings of $96,750,000 over the next ten years.

In addition to its prime location within the Southwestern Johnson County submarket, the development is the only site in the metro area that offers available land allowing laydown yards, outdoor storage, access to a major railroad via short line railroad services and access to domestic air transport via New Century AirCenter.

“We knew when we first received the RFP for this project that it represented an opportunity to partner with the Johnson County Airport Commission and the county in the execution of a long term vision that would bring lasting benefits to the residents of Johnson County,” stated Rich Muller, executive vice president of VanTrust.

“We are excited to have been selected to lead this effort and look forward to kicking off what will be a significant expansion of the Southwest Johnson County industrial submarket.”

Olsson and GBA have also been selected to assist in the development plans. Olsson will be working on the rail, infrastructure and other improvements in addition to investigative studies and helping to manage the county submittal and review process. GBA’s architectural team has been hired to provide the preliminary architectural renderings and elevations.

GBA acquires Texas firm Jay Engineering Company

George Butler Associates, Inc. (GBA) recently announced the acquisition of Texas-based firm Jay Engineering Company, Inc., now renamed as Jaeco, a division of GBA.

As a result of strategic planning efforts, GBA set out to acquire a firm in the water/wastewater or transportation markets. Texas was identified as a strong market with growing need for infrastructure.

“Jay’s municipal and development engineering expertise and long-standing presence in the Austin area will allow us to further strengthen our service offerings and resources in Texas,” said Tim Ross, GBA president/CEO.

Jay Engineering has served clients since 1980. Earlier this year, founder Fred Jay marked forty years in business and made the decision to retire.

“I am so glad this day has come. We have worked long and hard to develop a reputation of serving our clients with integrity and excellence in our field. With my retirement, it is good to know both employees and clients will be well served under this new arrangement. Putting the additional resources of GBA into play will allow serving needs that we could not before. The future is bright,” said Jay.

Since 2016, GBA has grown from 210 to 300 people. According to Heidi Thummel, director of business development and the firm’s M&A project manager,

"We couldn’t be more excited to welcome new teammates in Texas! GBA is adding a group of outstanding technical professionals who will expand our capabilities, and Jay Engineering is gaining the support of a firm that can help provide opportunities for growth and development,” Thummel said.

GBA/Jay closed the deal virtually due to the COVID-19 pandemic on August 31, 2020. Terms of the acquisition will not be released.

Raymore Commerce Center breaks ground, begins leasing

Brinkmann Constructors recently broke ground on a 565,000-SF spec building in Raymore Commerce Center, an industrial logistics park located on 136 acres in the I-49 corridor in Raymore, Mo.

Colliers International is representing the developer, VanTrust Real Estate, and is actively searching for tenants to fill the space - the first of three planned buildings expected to total nearly 2 million SF upon completion.

“We are honored to work with a well-known and respected group like VanTrust. Regardless of who ultimately leases this space, they will no doubt bring jobs to the community and open up the corridor to even further development – an economic win all the way around,,” said Ed Elder, president at Colliers International | Kansas City.

Raymore Commerce Center offers tenants a fixed 20-year tax abatement program, proximity to a superior labor pool in the Kansas City MSA and exceptional access to the surrounding logistics network via I-49. 

“What drew us to Raymore was the access, workforce, a great land-owner partner and City that is pro-development. VanTrust is thrilled to kickoff Raymore Commerce Center and looks forward to partnering with the City of Raymore for years to come,” said Grant Harrison, director at VanTrust.

Building I is expected for delivery Q3 2021. Building 2 will include 415,000± SF and Building 3 will total 1,040,000± SF. Delivery dates for the additional two buildings are TBA.

“Brinkmann is honored to work with the stellar team on this project. This build will bring great opportunity and access to the area,” said Mike Uhrig, Brinkmann Constructor project director.

Other partners involved in the Raymore Commerce Center project include architect, GBA and civil engineer, Olsson.

For more information on this development, visit the project website at RaymoreCommerceCenter.com.