Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally.

Wednesday, December 18, 2013

Day 8 - Teva Office Development - 12 Days of Why It's Great to be in KC

Teva Headquarters Overland Park Kansas
Another day, another reason why it's great to be in KC. Today, we reflect on why it's great to have great companies adding to the growth of the Kansas City office development. At Block Real Estate Services, (BRES) we are particularly proud to have had the opportunity to partner with Teva Pharmaceuticals with their Overland Park, Kansas office.

The Origins of the Project
In 2012, Teva Pharmaceuticals announced it would move its offices to Overland Park, Kansas. The estimated value of the land acquisition, building and personal property was about $65 million. The Teva deal made the Kansas City Business Journal's Top Deals of 2012 and construction started on the headquarters shortly thereafter.

Teva Project Tops Expectations 
BRES drove the project and 12 to 13 months into construction, announced that the project would be completed ahead of its projected date. This article discusses how this "fast-track" approach made the Teva Pharmaceuticals an early riser. 

Teva Completion 
In 2013, Teva's new offices for its 400+ employees was completed. It is a five – story Class A 154,000 SF office building with expansion capability to build an additional 100,000 SF building. The building is environmentally friendly and LEED Certified by the USGBC. Features of the headquarters include:
  • Fitness center
  • Coffee bar
  • 300-person auditorium
  • Waterfalls and an outdoor plaza
  • Structured parking for 600 
Having great companies, like Teva, call the Kansas City area home adds to the diversity and growth of the Kansas City office market portfolio. 

2014 KC Market Report Coming in January.  

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