Firm’s New Location to Be Its Biggest in North America, CEO Says
More great news for the growth of Kansas City - continuing the growth of the city’s attractiveness to investors. ITRenew, a Silicon Valley-based data center services firm, is opening what the firm's chief executive says is its largest North American facility in suburban Kansas City.
The tech firm signed a 315,000-square-foot lease in Building C of the I-35 Logistics Park, a 330-acre distribution complex located in Olathe, Kansas. This deal fills the remaining available space within the industrial campus, according to a statement from Kessigner Hunter, which represented the park's landlord, Sun Life Assurance Company of Canada.
"We could not be more excited to make I-35 Logistics Park our largest North American facility," ITRenew's CEO Aidin Aghamiri said in the statement. "As our processing and production capabilities continue to scale at a rapid rate, I-35 Logistics Park and Kansas City more broadly offers us the skills and resources we need to grow.”
ITRenew is headquartered in Newark, California, according to the company's website. The tech firm did not disclose the number of jobs or what type of jobs will be added to its new location, but the company is slated to move into its I-35 Logistics Park space this December, the park's developer, Dan Jensen of Kessigner Hunter, told the Kansas City Business Journal.
In Kessigner Hunter's statement, Jensen said he and I-35 Logistics Park's landlord are now looking to move forward on developing another building at the complex now that it's at full capacity. The park is located about two and a half miles from the new 159th Street and South Lone Elm Road interchange at Interstate 35 and about eight and half miles from the 1,200-acre BNSF intermodal center.
Olathe is an area that has received plenty of attention from industrial developers and investors alike since the Great Recession, according to a report from CoStar Market Analyst Danielle Grimelli. More than 18 million square feet of industrial space has been built in Olathe since 2010, which accounts for about 35% of the area's total industrial stock.
For the record
Jensen, along with Kurt Jensen of Kessigner Hunter represented the landlord in the deal. Brad Struck and Sharon Morrison of Frisco,Texas-based ESRP Tenant Advisory Services represented ITRenew in the deal.