Growing Consumer Demand Requires a Need to Expand

The Kansas City community has certainly felt the pains of the pandemic over the last year. The challenges brought on by the coronavirus forced both people and businesses to reimagine their ways of life and their ways of doing business. Keeping with Kansas City’s long-standing tradition of entrepreneurism and innovation, the area has now chiseled its identity and rooted its significance to the nation by leveraging one of its greatest assets—geography. Kansas City’s central footprint has always been one of its most notable strengths, and it makes the area an ideal location for the logistics, warehousing and distribution industries to grow.

Recently, changes in consumer spending habits have moved the goods we purchase from store shelves to warehouse racks. Home deliveries of goods appear to be a trend that is here to stay and likely to continue to grow. This growing consumer demand necessitates the construction of new industrial space.

Kansas City specifically witnessed over 6.2 million square feet of industrial product delivered in 2020.*

Incredibly, 2021 is slated to deliver almost 12 million new square feet of industrial space.* Headquartered in Kansas City, Academy Bank partnered with some of the largest industrial developers in the area to meet the burgeoning demand for new logistics space, not only here in Kansas City, but also throughout other areas in the Midwest. Through the pandemic-driven economic downturn in 2020, Academy Bank supported its clients with over $180 million of capital to construct over 4.8 million square feet of new industrial space—a testament to our commitment to our clients and to the growth and prosperity of our community. We’re proud to partner with our local clients to meet these changing demands.

*Source: Colliers International | Kansas City-Lawrence 2021 Commercial Real Estate Forecast Report

February 24, 2021 | Posted in: Commercial Real Estate