KANSAS CITY, Mo., June 1, 2012 (GLOBE NEWSWIRE) -- Hunt Midwest Real Estate Development, Inc. announces that the National Archives and Records Administration (NARA) has signed a lease for 102,000 s.f. of industrial warehouse and office space in Hunt Midwest SubTropolis, the world's largest underground business complex. The new lease also includes options for expansion up to 372,000 s.f.
The new facility in SubTropolis consolidates several non-NARA certified locations to enhance productivity. "NARA's decision to combine several operations into one at SubTropolis is a great example of best-value procurement," said Ora Reynolds, president of Hunt Midwest Real Estate Development. "Not only does the underground offer excellent value compared to surface buildings, SubTropolis offers the efficiency and desired contiguous space NARA needs for cost-effective growth."
SubTropolis, which recently earned the highest ENERGY STAR energy performance rating possible from the U.S. Environmental Protection Agency (EPA) and Department of Energy (DOE), is considered a NARA-certified location for a number of reasons including sustainability, constant temperature and humidity levels, security and energy efficiency.
NARA will join several other government tenants in SubTropolis. The Environmental Protection Agency (EPA) maintains a 43,200 s.f. emergency response operation in the underground. The United States Postal Service (USPS) Stamp Distribution Center, which distributes stamps and packaging products to post offices, operates in 217,114 s.f. The USPS also leases an additional 311,600 s.f. in SubTropolis for its Stamp Fulfillment Center that fulfills online orders for commemorative stamps, first-day covers, Forever stamps and other postage products for the entire country.
"In total, federal government tenants will occupy nearly one million square feet of space in SubTropolis if NARA expands to the full 372,000 s.f. allowed for in this new lease," Reynolds said.
The NARA facility is the first project located in the newest phase of SubTropolis north of Derrough Drive. Access will be available from Parvin Road into SubTropolis via the new Derrough Drive entrance.
Hoefer-Wysocki Architects is the architect and Valor Construction is the general contractor for this project, which is set to be completed this fall. The initial phase includes two 45,000 s.f. storage pods with more than 1.6 million lbs. of steel shelving. NARA's facility will also include an additional 12,000 s.f. for office and staging areas.
About the National Archives and Records Administration (NARA)
The National Archives and Records Administration is an independent Federal agency that helps preserve our nation's history by overseeing the management of all Federal records. Our mission is to ensure ready access to the essential evidence that documents the rights of American citizens, the actions of Federal officials and the national experience.
About SubTropolis
As the largest underground business complex in the world, Hunt Midwest SubTropolis sets the standard for subsurface business developments. SubTropolis was created through the mining of a 270-million-year-old limestone deposit. In the mining process, limestone is removed by the room and pillar method, leaving 25-foot square pillars that are on 65-foot centers and 40 feet apart.
Among the many benefits tenants enjoy are low lease rates that are 30-50 percent less than above-ground facilities; low utility costs that offer 50-70 percent savings in total energy costs; and the largest foreign-trade zone under one roof in the United States. SubTropolis is home to more than 50 local, regional, national and international companies which operate underground and employ more than 1,500 people.
In 2012, SubTropolis earned a perfect ENERGY STAR energy performance rating of 100 in the category of unrefrigerated warehouse from the EPA. Of the six warehouse facilities in Kansas and Missouri that have earned the ENERGY STAR, SubTropolis is the only one to receive a perfect rating.
About Hunt Midwest Enterprises
Hunt Midwest Enterprises, Inc. is a Kansas City, Missouri-based company comprised of two wholly-owned subsidiaries: Hunt Midwest Real Estate Development, Inc., developer of over 6,000 acres of commercial, retail, industrial and residential property, and owner/developer of SubTropolis, the world's largest underground business complex; and Hunt Midwest Mining, Inc., 50% owner of the region's largest supplier of crushed limestone, Hunt Martin Materials, L.L.C.
Hunt Midwest, a privately held company, is owned by the Lamar Hunt family. The Hunt family business is a diverse portfolio of entities involved in real estate, sports/media, energy/resources, private equity, and investments. Marquee entities include the Kansas City Chiefs, Hunt Midwest, Chicago Bulls, FC Dallas Stadium, FC Dallas Soccer Club and United Center.
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