QUIVIRA135
Overland Park, Kansas is the second largest city in the state of Kansas and the largest city in Johnson County. The suburban community is 11 miles south of downtown Kansas City, Missouri with a growing population of 197,106. Nearly 62% of working residents hold a college or advanced degree, supporting a median household income of $85,448 and median home value of $287,085.
Retail
Located in the heart of Overland Park, the site neighbors Scheels Overland Park Soccer Complex and the Blue Valley Recreation complex. These premier youth sports facilities host thousands of athletes annually and are home to several local and regional tournaments year-round.
The 135th Street retail corridor attracts several regional and national tenants to the area based on strong demographics and consumer spending power. The area has been a boom of development in the past decade and is home to tenants including Scheels Sporting Store, Von Maur department store, REI, Whole Foods and Sprouts Farmers Market.
Multifamily
Multifamily development in the Kansas City market continues to be relatively elevated. Total inventory reached 174,247 units at the end of Q2 2021, with another 4,532 units under active construction.
With the development of Residences at Galleria, South Overland Park has 322 units under active construction. Several other projects recently completed include Vale at Overland Park, Apex at CityPlace, Carson Street Towers, Cyan Southcreek, Element 25 and Residences at Bluhawk.
South Overland Park ended Q2 2021 with an occupancy rate of 95.8%, and commanded the highest suburban submarket rents in the Kansas City metro. Average monthly rental rates are $1,193 ($1.20/SF), second highest behind the Central Kansas City submarket.