Black & Veatch to Buy Building for Headquarters
Black & Veatch on March 23 announced one of the largest real-estate transactions in the Kansas City region with an agreement to purchase the 11401 Lamar Avenue building in Overland Park, the world headquarters for the area’s largest engineering, consulting, and construction company.
“This is a strategic and vital long-term decision that helps facilitate the efficient management of our growing integrated global workforce and improve the company’s financial strength,” said Len C. Rodman, chair, president, and chief executive officer of Black & Veatch.
“The state of Kansas and city of Overland Park were immensely helpful in working collaboratively with Black & Veatch to make this visionary plan a reality,” he added.
The company agreed to purchase the building for $60 million, and it plans to secure financing through local banks to help facilitate the purchase. The transaction will be finalized in mid-year.
“This agreement allows us to implement at our world headquarters the same types of innovative and sustainable solutions we provide every day for our clients,” Rodman said. “With guidance from Overland Park, we are now able to plan for an additional 250,000-square-foot complex on the site when needed for future growth, as well as formulating significant enhancements to the existing facilities.”
Enhancements will include extensive workspace, common area and facility upgrades; improved HVAC and energy management systems; external landscaping and improvements in controlling stormwater run-off and providing rainwater reuse systems. In addition, a solar courtyard, solar canopy, bio garden, and an innovation pavilion are planned for the world headquarters.
Black & Veatch has been the sole occupant of the building since its original construction in 1976. The building was expanded to 600,000 square-feet in 1996 and is the largest office building in Kansas.
With a potential total of 850,000 square-feet in the campus, the site could ultimately accommodate a total workforce of more than 3,400. The existing facility currently houses more than 2,300 of the company’s 3,800 workforce in the Kansas City area.