Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally. TUESDAY, JANUARY 29, 2019 The 2019 Market Report is Now Available Availble online now is the 2019 edition of The Real Estate Report, Metropolitan Kansas City. The experts at Block Real Estate Services, LLC (BRES) have assembled the most comprehensive annual evaluation you will find for the commercial real estate market in the Kansas City area. If you are contemplating a real estate transaction in 2019, this report will provide valuable information to assist you in making the best decisions. In 2018, Kansas City generally experienced a strengthening across all product types and submarkets. Class A Office market vacancy dropped to 8.1% at the end of 2018, down 0.6% from the same time in 2017. This 8.1% vacancy rate represents the lowest rate for the Kansas City market in the past 17 years. During 2018, over 350,000 square feet of new Class A construction was delivered in the area with absorption out pacing delivery by approximately 50,000 square feet. Average rental rates climbed $0.24 to reach $22.58 at year end. BRES is set to deliver it’s first of four office buildings at CityPlace in 2019. The 120,268 square foot, four-story, Class A building is expected to be completed in June 2019 and plans are already underway for the second 120,000 square foot Class A office building. Growth in Kansas City’s industrial market is being driven by the brick and mortar retailers rush to cut delivery times and transportation costs, raise their ecommerce capabilities, and compete with a changing landscape driven by Amazon. By the end of 2018, over six million square feet of net absorption had occurred, and the vacancy rate dropped 1.2% from the same time last year to 4.4%. Leasing activity in 2018 included Turn5 Inc., an ecommerce retailer in the aftermarket automotive parts industry, leasing of 363,063 square feet of the 635,834 square foot BRES developed in Lenexa Logistics Centre North Building 1 in August of 2018. Retailers continue to embrace omni-channel strategies to reach the consumer on every digital device they touch. While shopping for daily commodities has, and will continue to, become more streamlined with self-pay stations in stores and one-click ecommerce purchases with same-day delivery, the opportunity to find great products while socializing with others at brick and mortar stores won’t be going away anytime soon. Overall, vacancy rates rose across the metro, moving from 5.3% at the end of 2017 to 5.9% at the end of 2018, while average rental rates rose $0.59 to $13.56. The Kansas City multifamily market continued to grow with the delivery of 1,935 units in 2018 bringing the total to 144,035 for the market. Average vacancy decreased 1.2% to 6.7% across the market with a 1.6% increase in market rents. BRES continues to be active in the multifamily market with multiple developments in process contributing to the 8,357 units currently under construction, including: Galleria 115, 4400 Washington, The Clearing at Anderson Pointe, and The Apex at CityPlace. Our annual market report takes an in-depth look at each of the above sectors and will provide you with a thorough understanding of the Kansas City commercial real estate market. If you are considering real estate transactions in other markets, BRES’s team of experts can connect you with one of our affiliates to seamlessly incorporate the broadest and most accurate data available into your decision process. Our entire team stands ready to answer your questions and help you obtain a clear vision of commercial real estate in Kansas City or anywhere across the country. A digital version of this report is also available at: www.blockllc.com/marketreport Posted by Block Real Estate Services at 3:20 PM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Labels: Commercial Real Esate Development, Commercial Real Estate, Commercial Real Estate Industrial, Commercial Real Estate Kansas City, Investment, Kansas City, Multifamily, Office Market, Retail Location: Kansas City, MO, USA TUESDAY, FEBRUARY 6, 2018 The 2018 Market Report is Now Available Availble online now is the 2018 edition of The RealEstate Report, Metropolitan Kansas City. The experts at Block Real Estate Services, LLC (BRES) have assembled the most comprehensive annual evaluation you will find for the commercial real estate market in the Kansas City area. If you are contemplating a real estate transaction in 2018, this report will provide valuable information to assist you in making the best decisions. In 2017, Kansas City generally experienced a strengthening across all product types and submarkets. · Class A Office market vacancy dropped to 8.7% at the end of 2017, down 1.8% from the same time in 2016. 8.7% is the lowest vacancy rate for the Kansas City market in at least the past 16 years. During 2017 over 500,000 square feet of new Class A construction was delivered in the area and average rental rates reached $22.34. A historic sale was seen in the area as the 22-building, 2.2 million square foot, Corporate Woods portfolio was acquired by Group RMC out of New York and Montreal. BRES was brought on as the exclusive leaser and property manager. · Growth in Kansas City’s industrial market is being driven by more national companies that are seeking to consolidate their logistic operations, as well as internet-based firms looking for a central location to process and ship orders from efficiently. By the end of 2017 there had been almost six million square feet of net absorption with no change to the vacancy rate from the same time last year. Deliveries in 2017 reached over 9.5 million square feet which includes the 401,197 square feet at the fourth building at BRES’ Lenexa Logistics Centre South in Lenexa, Kansas. · The Retail market is ever changing, but brick-and-mortar locations will not go away even as retailers adapt to the changing habits of their customers. Overall, vacancy rates fell across the metro, moving from 6.2% at the end of 2016 to 5.3% at the end of 2017. · Multifamily transaction volume continued to maintain historically high levels in Kansas City, reaching more than $700 million through a healthy mix of sales in Class A, Class B, and Class C properties. An additional 138,240 units were added to the market due to low-rise, high-rise, and mixed-use developments popping up throughout the Metro. BRES continues to be active in the multifamily market with multiple developments in process, including: Galleria 115, 4400 Washington, The Grand, 531 Grand, Anderson Pointe, 46 Maddison and The Apex at CityPlace. Our annual market report takes an in-depth look at each of the above sectors and will provide you with a thorough understanding of the Kansas City commercial real estate market. If you are considering real estate transactions in other markets, BRES’s team of experts can connect you with one of our affiliates to seamlessly incorporate the broadest and most accurate data available into your decision process. Our entire team stands ready to answer your questions and help you obtain a clear vision of commercial real estate in Kansas City or anywhere across the country. A digital version of this report is also available at: www.blockllc.com/marketreport Posted by Block Real Estate Services at 4:28 PM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest MONDAY, AUGUST 14, 2017 Group RMC Acquires Corporate Woods Group RMC Acquires Corporate Woods Block Real Estate Services Named Exclusive Leasing Agent and Property Manager Group RMC Corporation (RMC) announced on Wednesday that it has closed on the acquisition of Corporate Woods in Overland Park, Kan. Block Real Estate Services, LLC (BRES) acted as an advisor in the transaction. Corporate Woods becomes the largest commercial real estate transaction in the Kansas City metro since the sale of the Country Club Plaza in 2016. BRES has been appointed by RMC as the exclusive leasing and management agent for the office park. The agreement became effective Wednesday, August 9, 2017. Read more » Posted by Block Real Estate Services at 1:27 PM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Labels: @BlockRes, Asset and Property Management, Commercial Property Management Location: 8717 W 110th St, Overland Park, KS 66210, USA WEDNESDAY, JULY 12, 2017 Brad Simma and BCS Featured in June Issue of BUILD Magazine As Vice President of Block Construction Services (BCS), Brad Simma currently directs a staff of six project managers, in addition to support staff, and oversees approximately 25 projects which are currently under construction or in the planning stages. We interviewed him to find out more about BCS, who was recently selected as a Leading Expert in its field. Read more » Posted by Block Real Estate Services at 4:58 PM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Labels: Block Construction Services, Brad Simma, construction FRIDAY, JULY 7, 2017 Block Healthcare Development Closes on Acquisition of a Medical Facility in Springdale, Arkansas SPRINGDALE, Arkansas---July 5, 2017---Block Healthcare Development, LLC (BHD) recently closed on a deal for the acquisition of the 31,200 SF medical office building located at 4077 Elm Springs Road, Springdale, Arkansas. The facility was opened in May of 2016 and fully occupied in September of 2016 by Northwest Physicians, LLC. Northwest Physicians, LLC clinics comprise the most comprehensive collection of healthcare professionals this region has ever seen. The wholly-owned group of employed physicians spans multiple primary care offices and specialty clinics. The Springdale location currently has established family medicine, internal medicine and physical therapy practices. In addition, Northwest Physicians, LLC will be opening an Urgent Care center at this location in the near future. BHD handles healthcare real estate transactions ranging from the development of medical offices to the acquisition of net-leased medical office properties. BHD acquired over 165,000 square feet of new property in 2016. BHD operates in conjunction with Block Funds (BF), a leading commercial real estate private equity firm. BF allows accredited investors seeking income, capital preservation and appreciation an opportunity to earn high, stable cash yields and competitive risk-adjusted returns. Both BHD and BF are affiliates of Block Real Estate Services, LLC (BRES), a full-service commercial real estate company managing over 37 million square feet of retail, office, industrial, and multifamily properties for equity partnerships and third party owners. To learn more about BHD or register to receive updates on investment opportunities, visit: https://www.blockfunds.com/ For more information contact: Stephen Bessenbacher Vice President Block Healthcare Development 816.412.8467 sbessenbacher@blockllc.com Posted by Block Real Estate Services at 2:25 PM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Location: 4077 Elm Springs Rd, Springdale, AR 72762, USA THURSDAY, JULY 6, 2017 With Major Expansion at Pine Ridge Business Park, Corbion Will Create Even More Global Food Innovations in Kansas City Area New leading-edge lab facilities in Lenexa, Kan., will help fuel the company’s continued growth as a global supplier of ingredient solutions to the world’s foremost food manufacturers. Read more » Posted by Block Real Estate Services at 11:57 AM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Location: 8250 Flint St, Lenexa, KS 66214, USA FRIDAY, APRIL 21, 2017 Construction Has Started on New Frontier Justice– Legends Building KANSAS CITY, Mo.--- April 21, 2017 ---Block Real Estate Services, LLC (BRES) has closed on the land acquisition for the development of Frontier Justice’s new two-story facility at the Legends Shopping Center in Kansas City, Kansas near the Schlitterbahn Waterpark. Read more » Posted by Block Real Estate Services at 2:22 PM 0 comments Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Labels: @frontierjustice, Block Real Estate Services, Stephen Bessenbacher, Stephen Block Location: 1843 Village W Pkwy c127, Kansas City, KS 66109 Older Posts Home Subscribe to: Posts (Atom) VISIT OUR WEBSITE BLOG ARCHIVE ▼ 2019 (1) ▼ January (1) The 2019 Market Report is Now Available ► 2018 (1) ► 2017 (5) ► 2016 (1) ► 2015 (74) ► 2014 (113) ► 2013 (110) ► 2012 (65) Block Real Estate Services, LLC (BRES) is a full-service commercial real estate company managing over 33 million square feet of retail, office, and industrial properties for equity partnerships and third party owners. BRES’s portfolio of services continues its role as the most comprehensive commercial real estate firm in Kansas City by providing and specializing in: real estate brokerage services, tenant representation, investment services, asset and property management, economic incentives consultation, financial services, construction and development services, and the Block Funds. Powered by Blogger. Deze site gebruikt cookies van Google om services te leveren en verkeer te analyseren. Je IP-adres en user-agent worden met Google gedeeld, samen met prestatie- en beveiligingsstatistieken om servicekwaliteit te garanderen, gebruiksstatistieken te genereren, misbruik te detecteren en maatregelen te treffen.MEER INFORMATIEOK