Vital Farms Inc. occupying its egg processing factory in Springfield put it near the top of Xceligent’s third-quarter commercial real estate report. But it’s the second largest local industrial gain, next to a 100,000-square-foot supply chain plant that Mercy Springfield Communities opened in Republic.
According to Xceligent’s Market Trends analysis of industrial, retail and office activity in the Springfield area, all three categories recorded positive movement compared with the second quarter. Industrial sites registered 421,279 square feet of positive absorption, retail properties had 50,447 square feet of positive absorption and office spaces netted 16,757 square feet of positive absorption.
During the three-month period, Mercy’s Resource Optimization & Innovation LLC moved into its $10 million plant to provide health care solutions in a dozen categories, including customized surgical packs. The new building at 3000 E. Sawyer Road in Republic replaced a facility at 2909 N. Neergard Ave. that was only 6,000 square feet, according to Springfield Business Journal archives. ROI now plans to produce up to 1.5 million of the medical supply surgical packs annually. Rankin Development Co. managed the project, along with general contractor Morelock-Ross Builders Inc. and lead designer Slone Architects & Interior Designers Inc.
Other notable third-quarter commercial real estate activity, according to Xceligent:
• Springfield Plaza, Phase I, added 91,441 square feet of retail space near West Bypass and West Sunshine Street, leased to Burlington Stores Inc., Petco, Shoe Dept. Encore and Ross Dress For Less;
• Florida-based One Call Care Management moved into a 65,000-square-foot office at 1930 W. Bennett St., formerly occupied by UnitedHealthcare, where it employs about 100 people;
• JRI Holdings Inc. moved into a new $5.6 million, 60,000-square-foot office and factory at 1435 N. Alliance Ave., less than a mile from Vital Farms;
• Warren Davis Properties LLC purchased the 30,000-square-foot former Keebler property at 2651 N. Eastgate Ave. for $1.78 million in September;
• Everest College vacated 28,061 square feet at 1010 W. Sunshine St;
• Missouri Tile and Mouery’s Carpet Center LLC left 19,231 square feet in a shopping center at 3045 S. Scenic Ave., which they replaced nearby, with two buildings on West Battlefield Road; and
• Tuesday Morning moved out of 8,500 square feet in Plaza Shopping Center in favor of 13,000 square feet newly built in Brentwood Center South.
In the last year, however, empty spaces in the Springfield area have increased in two sectors: The industrial vacancy rate increased to 4.8 percent from 3.8 percent a year ago, and retail vacncies grew to 5.9 percent from 4.9 percent. Vacant offices decreased to 6.6 percent from 8.9 percent in third-quarter 2016, according to Xceligent.
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