Two-Year Analysis Results in Building Purchase and
Strong Boost to Local Economy
Overland Park, Kan. (March 23, 2009) -- Black & Veatch today 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.
Black & Veatch’s announcement comes as a strong boost to the local
economy during a time of increased uncertainty. The company’s site development,
enhancement and expansion plans provide an opportunity to stimulate the
region’s economy.
“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, Chairman, President and CEO
of Black & Veatch. “The company is well-positioned to help address the
global demands for $42 trillion in infrastructure projects that are needed
during the next 25 years.
“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.”
Kansas Lieutenant Governor Mark Parkinson said, “This is a great example of
how, even in these tough economic times, companies that are looking to the
future can not only survive, but prosper. Black & Veatch is leading
the way, supporting sustainable jobs at their world headquarters right here in
Kansas.”
Overland Park Mayor Carl Gerlach added, “I want to congratulate Black &
Veatch on the company’s assurance to sustainability, whether economic, social
or environmental, as it sets a standard for others to follow. The direction and
commitment Black & Veatch has shown to Overland Park, the state of Kansas
and the metropolitan area demonstrate innovative leadership.”
Black & Veatch agreed to purchase the building for $60 million, and the
company plans to secure financing through local banks to help facilitate the
building purchase. The transaction will be finalized in mid-2009.
“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.”
Rodman added that the multi-phased site development, enhancement and
expansion approach also demonstrates how the company tackles complex
challenges.
“This decision to adapt an older facility to tomorrow’s design standards
brings a much larger technical challenge and will ultimately result in a more
sustainable solution than constructing a new campus,” he said.
The company’s two-year real-estate analysis included evaluation of
approximately 40 alternatives and resulted in a decision to purchase the
existing site and begin innovative redevelopment of the existing building, as
well as addressing the interests of Black & Veatch professionals currently
in the facility.
Enhancements will include extensive workspace, common area and facility
upgrades; improved HVAC and energy management systems; external landscaping and
improvements in controlling storm water 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.
“We now have the flexibility to begin making significant and sustainable
building upgrades, an effort that will result in the development of a premiere
facility serving as a benchmark for our future growth,” said Rodman.
He added that the company has piloted many of the design concepts at its
more than 100 global offices and will draw on its LEED-certified experts and
architecture, engineering and construction talent to bring more innovative
design concepts to 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.
About Black & Veatch
Black & Veatch is a leading global engineering, consulting and construction
company specializing in infrastructure development in energy, water,
telecommunications, management consulting, federal and environmental markets.
Founded in 1915, Black & Veatch develops tailored infrastructure solutions
that meet clients’ needs and provide sustainable benefits. Solutions are
provided from the broad line of service expertise available within Black &
Veatch, including conceptual and preliminary engineering services, engineering
design, procurement, construction, financial management, asset management,
program management, construction management, environmental, security design and
consulting, management consulting and infrastructure planning. With $3.2
billion in revenue, the employee-owned company has more than 100 offices
worldwide and has completed projects in more than 100 countries on six
continents. The company’s Web site address is www.bv.com.
Media Contact:
George Minter
913-458-8001
minterga@bv.com
24-hour Media Line:
1-866-496-9149
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