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Jared Enterprises buys BKD building

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Last edited 4:30 p.m., Dec. 20, 2010

Springfield-based Jared Enterprises Inc. has purchased the building occupied by BKD LLP at 910 E. St. Louis St. from Opus Northwest LLC, a Kansas City-based developer.

The deal closed Dec. 15, said buyer’s agent Dave Murray with R.B. Murray Co. Neither Murray nor Curtis Jared, Jared Enterprises executive vice president and chief operations officer, would disclose the purchase price.

The construction cost of the building in 2009 was $21.5 million, according to past coverage.

“You probably can’t get too much better of a tenant than the 10th largest accounting firm in the nation,” Jared said, adding that BKD workers shouldn’t notice any changes. “BKD occupies floors two through four with the 20,000 square feet on the first floor available. The whole first floor is already white-boxed out. The restrooms are already in for use and everything. It’s basically ready for whatever your particular infill needs are.”

While the lease rate for the first floor varies, Jared said the gross rate for the first floor is $23 per square feet, which includes utility and janitorial services.

“It was purchased as an investment. That’s one of the reasons they would acquire the property,” Murray said. “They wanted a quality property and a quality tenant.”

BKD moved its roughly 260 employees into the 109,000-square-foot four-story building in August 2009. It leased three floors from Opus Northwest.

BKD officials chose the developer to build its headquarters in University Plaza’s parking lot across the street from Hammons Tower, where it occupied eight floors for 20 years.

The project pursued Leadership in Energy and Environmental Design Gold certification and features plumbing fixtures that use less water, energy-efficient heating and air conditioning systems, water-efficient landscaping, and a white roof designed to reflect sunlight and reduce urban heat.

“Jared Enterprises retained this office to secure income producing properties of which we assembled several pieces over the last few years, and this was one of those pieces,” Murray said.

Jared Enterprises owns and manages commercial, retail and office buildings in Springfield, Ozark, Rogersville, Nixa, Lebanon, Branson and Springdale, Ark., according to The company also leases loft apartments in Springfield and Rogersville and billboard space.

Opus Northwest’s parent company, The Opus Group, is a national commercial real estate organization based in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales, and leasing.

Three of Opus’ five subsidiary companies – Opus South Corp., Opus East and Opus West filed for Chapter 11 bankruptcy protection in 2010.

Read more coverage in the Jan. 3 Springfield Business Journal print edition.[[In-content Ad]]


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