The Allen Group And BNSF Railway Finalize Agreements For Logistics Park - Kansas City
The Allen Group, developer of logistics parks and commercial properties throughout the United States, and BNSF Railway Company (BNSF) have finalized the land purchase rights and related pre-development agreements for The Allen Group's development of Logistics Park - Kansas City.
BNSF currently owns 997 acres, with 418 acres dedicated to a new BNSF intermodal facility. Pursuant to the option agreement, BNSF has granted The Allen Group the exclusive right to purchase the remaining portion of the site (579 acres) for the development of distribution and warehouse facilities for Logistics Park – Kansas City adjacent to the BNSF intermodal facility.
BNSF Railway, the nation's largest intermodal carrier, pioneered the logistics park development concept within the rail industry, and is expected to open its new intermodal facility in 2009.
"We are pleased to finalize the agreements with BNSF so we can continue to move forward with the development of our Logistics Park project," said Richard S. Allen, Chief Executive Officer of The Allen Group.
"We continue to work with the state, county and local officials for the progression of this project, which will have a significant economic impact in the State of Kansas," said Bill Crandall, recently announced President of Allen Development of Kansas.
Logistics Park – Kansas City is located in Gardner, Kansas, 25 miles southwest of Kansas City. The Park is adjacent to Interstate 35, BNSF's Transcontinental mainline, and BNSF's planned new intermodal facility. Over the 20 year build-out, the Logistics Park is projected to help create 7.1 million sq. ft. of vertical development and 13,000 jobs in the State of Kansas.
The Allen Group
The Allen Group is a commercial development firm specializing in rail-served industrial parks and build-to-suit facilities, including Class A office buildings and large scale distribution centers. The Company has over 8,000 acres under development. The Allen Group has developed over one billion dollars in projects ranging in size up to 1.7 million square feet. Current developments include the International Trade and Transportation Center www.ittc.com; MidState 99 Distribution Center www.midstate99.com, both in Central California; Dallas Logistics Hub www.dallashub.com; and a new Logistics Park in Kansas City.
The Allen Group, based in San Diego with regional offices in Visalia, Bakersfield (Calif.), Dallas and Kansas City, is trusted by Fortune 500 companies such as VF Corporation, Cox Communications, FedEx, International Paper Company, Intuit, Kraft Foods and Wal-Mart Stores. For more information about The Allen Group, please visit www.allengroup.com.
SOURCE: The Allen Group