National Real Estate Investor
Midwestern Industrial Park Announced
18 October 2006
Plans were announced this week to develop a 1,000-acre logistics park 25 miles southwest of Kansas City. The Allen Group, anational developer of logistics parks and office properties, will work with joint venture partner BNSF Railway Co. (NYSE: BNF) on the logistics park. A dollar amount on the total project cost was not disclosed. Roughly 350 acres of the site will also be cordoned off for a new BNSF Intermodal Facility. BNSF, one of the nation’s largest freight carriers, will develop and operate this new intermodal facility. Intermodals serve as hubs for the loading and unloading of shipping containers between truck and rail modes of transportation. “BNSF Railway and The Allen Group have a long-term working relationship and we are pleased with the confidence they have demonstrated in our company,” says Richard Allen, CEO of The Allen Group.
“We look forward to partnering with BNSF to create a major economic engine for jobs and new development in the region.” The Allen Group has developed more than $1 billion in projects nationwide. Both the intermodal facility and logistics park are expected to be finished late next year.