Commonwealth Inc., a Cincinnati-based third-party logistics firm, has signed a lease for its first Kansas City location — a 101,567-square-foot space at NorthPoint Development’s new Three Trails Industrial Park.
Whitney Kerr Jr., the Cushman & Wakefield broker who negotiated the lease, said Commonwealth will occupy part of a new 364,000-square-foot building under construction in the park at U.S. Highway 71 and 87th Street. The building was started on a speculative basis, meaning before tenants were secured.
Commonwealth, which specializes in public warehousing and contract warehousing solutions, will invest $3.5 million in its new space.
“When the opportunity arose to come to Kansas City, I immediately jumped on it,” Commonwealth CEO Brent Collins said in a release. “Kansas City has always had a strong logistics sector, and I was eager to be a part of it. After touring the area, I am very encouraged by the growth potential I see in Kansas City.
Collins cited the location’s proximity to the interstates, the area’s excellent industry and the tax abatement savings that Port KC approved for the building, which “will allow us to be very aggressive.”
Founded in 1985, Commonwealth is a family-owned company that provides multitenant and dedicated warehousing solutions to Fortune 500 companies and smaller clients in a wide variety of industry sectors. Leading clients include Procter & Gamble, Pepsi, Beech-Nut Foods, Kroger, Starbucks and Pfizer.