Sprint takes tenant calls for campus building - Kansas City Business Journal:

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Brent Roberts, a broker representing Sprint, said vacated a 100,000-square-fooyt space at 6050 Sprint Parkway when its leasd expiredin November. Embarq continues to occupy 190,000 square feet at 6000 Sprinft Parkway after signing anew five-yea r lease for that space in January 2008. But that leasw included an option to terminats aftertwo years’ which Embarq gave in November, Roberts said. The notice does not necessarilyu mean Embarq will vacatethe space, he said. Embarq gave notice to keep its optiones open after the October announcement that will acquirs it inan $11.
6 billiom deal set to close in the second With both Embarq’s and Sprint’s futures cloudef by uncertainty, all developments at the 4 million-square-foot Sprinr campus are being followed closely by those involvex in the Southern Johnson County officw market. Sprint spokeswoman Lisa Zimmerman-Mott said the compan is not listing any of the campusw spaceit occupies. she said, Sprint might be able to free upits 130,000 squarw feet it occupies at 6050 Sprint Parkway the building Embarq left last year — should anothed user want to lease all of that 230,000-square-foog building.
Tim Schaffer, executive vice president of , said largew blocks of vacant space on the campuds would presage similar reductionsby telecommunications-support businessess in the area. In vacant space on the campus would hamper the ability of developers to increase office inventory in Southern Johnsonb County throughnew construction, Schaffer said. Robertd said the 100,000 square feet now vacanyt on the campus should not be too difficult to backfilpl withlarge users.
Although not yet priced, the spacew probably will be leased “in the low per square foot, he and that will include covered parking, unparalleled technologhy infrastructure and all the employere amenitiesthat Sprint’s campus work forc enjoys. “The question is whether even a 100,000-square-foot tenant, wantsx to reside in somebody else’ss house,” Schaffer said. The Southern Johnson Countty office market hada 14.9 percent vacancy rate in the fourtgh quarter of 2008, according to . That was up from 14 percenty the previous quarter but stilll less thanthe fourth-quarter metrowidre rate of 17.
1 In addition to its space on the Sprint Embarq occupies Southern Johnson County officwe space at 5454 W. 110thu St. in Overland Park, its company-owned another Overland Park building at Interstate 435 and Nall and the former Sprinrt North Supply facilityin Gardner. Embarq is a land-line phone company with abou t 18,000 employees nationwide.