O'Reilly Development buys closed KC Folgers plant

O’Reilly Development Co. LLC last week finalized the purchase of a closed Kansas City Folgers plant, which the Springfield developer plans to convert into market-rate rental lofts and apartments.

The sale, which closed June 21 for an undisclosed amount, comprises two separate historic buildings and an adjacent parking lot, according to a news release. The Kansas City Business Journal reports the property sold to Alexander Co. from J.M. Smucker Co. last year for $1.52 million. Folgers had owned and operated the property but vacated in 2012.

“Our team is excited for this opportunity to be involved in the redevelopment of such a historic and significant Kansas City landmark,” O’Reilly Development owner Pat O’Reilly said in the release.

Located in the Garment District of Kansas City, the property comprises:

• a northern parcel with a roughly 34,080-square-foot asphalt parking lot;
• a southern parcel with the two buildings, one built in 1912 with 137,640 square feet and another built two years later with 79,520 square feet.

O’Reilly Development plans to renovate the buildings into market-rate apartments comprising studio apartments, as well as one- and two-bedroom units. The south building would including underground parking, and the north building would have parking available on the adjacent lot. Other amenities would include a fitness facility, swimming pool and courtyard, according to the release.

Build LLC is serving as general contractor for the redevelopment project, with Kansas City-based SWD Architects performing design work.

O’Reilly formed O'Reilly Development this year and separated with Miller-O’Reilly Co. Inc. after 10 years partnering with Matt Miller of Miller Commerce LLC.[[In-content Ad]]