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The Lewis White Real Estate Center at UMKC invited Gordon Brown to speak at a free event recently at the Kauffman Foundation. Brown makes his home in Chicago, but has spent recent years in the Middle East as dean of a prominent business college in Abu Dhabi. Above, Brown and Walt Clements, director of the Lewis White Real Estate Center in the Bloch School of Business.  Brown, a fellow ULI member, has extensive real estate background, and gave insights about a country of have and have nots, of great growth and then great stagnation as hundreds of hi-rise buildings under construction in Abu Dhabi stand idle.

JoAnn Nunnink with Integra and Jerome Riemann with IRR Corp. Public Finance enjoyed the presentation. Brown talked about how Dubai’s reliance on real estate backfired, and how its mind-boggling, built environment is an example of sloppy diligence and economic irrationality. In other words, there was no foundation to build upon in the first place, and little regulation to guide it.  Below, Don Gessen with Block Real Estate Services, Bill White of White & Associates, and Bryan Harris with Munlake Contractors.

Cassidy Turley team lands New Century AirCenter deal

Architecturally advanced, structurally solid, energy efficient, and really quiet. Those are a few of the features that attract buyers to 41 Penn, loft homes (above) in historic Westport. “It’s also completely new construction, and people really like that,” said Pam McKay, who markets the building for Prudential Kansas City Realty. 41 Penn consists of 32 one- and two-bedroom loft homes, and currently there is one, one-bedroom for sale for $288,000 and five two-bedroom units that range from $300,000 to $400,000. Each owner can customize their loft, choosing materials and colors, or choose from the model condominium that’s professionally designed. The stylish lofts by developer Classical Development feature balconies (below) with views of the city. There’s also underground secured parking; and music, nightlife and dining are just around the corner.

The modern kitchens (below) feature stainless steel appliances,  custom-made cabinets and large islands.

Stats show sluggish summer

The latest word from the Federal Reserve depicts only intermittent, patchy spots of continued economic growth, with residential real estate markets across the country characterized as “sluggish,” and commercial real estate conditions garnering a descriptor of “weak.” These “Beige Book” findings are based on anecdotal information collected across the country from businesses and contacts outside the Federal Reserve. Since the central bank’s previous survey snapshot in early June, eight of the 12 regional Fed districts reported that economic activity has continued to increase, although most characterized the improvement as “modest.” Cleveland and Kansas City reported that the level of economic activity in their districts “held steady,” while Atlanta and Chicago said the pace “had slowed recently.”

The overall assessment is considerably more downbeat than the results seen in the June survey, when all 12 districts cited improvements in economic growth. However, the latest conclusions support Fed Chairman Ben Bernanke’s recent position that while economic recovery is still progressing, it has slowed considerably from earlier in the year. Nearly all districts reported sluggish housing markets in the months since the homebuyer tax credit expired on April 30.  The Boston, Philadelphia, Atlanta, and Kansas City districts all reported that they expect home sales to weaken going forward.

A gem in Sunset Hill gated community

This picturesque French Villa-inspired home sits atop a secluded Sunset Hill gated enclave. The European,

19th-century doors open to a two-story grand room modeled after Rozelle Court at the Nelson-Atkins Museum of Art.The pool, patio and gardens are private and luxurious. Every amenity and feature of this home at 5300 Sunset Drive (priced under $2 million) is extraordinary, listing agent Polly Donnelly with Prudential said. Below, David Johnston with Prudential on the staircase during a recent agent tour luncheon.

Below, Maria Morton and Buffy Gunter with Prudential check out the door that was imported from Europe.

Sandy McCray and Veronica Jaster with the Koehler Bortnick team at Reece & Nichols stoppe by and

checked out the gourmet kitchen.

MetroWireKC met up with the Kansas City chapter of BOMA (Building Owners and Managers Association) President Barry Gregson to learn about what the organization has been working on lately and more about their overall mission. Started in 1926 as the trade association for the area’s office building industry, the group has grown into an organization that works for local and national political changes, hosts large expo events and provides educational opportunities for members. BOMA International was founded in 1907 and represents 100 North American and nine overseas associations. BOMA chapters can be found all over the globe including: Australia, Brazil, Finland, Indonesia, Japan, Korea, the Philippines and South Africa. The international group represents a combined total of more than 8.5 billion square feet of office space.

(Above, BOMA President Barry Gregson and BOMA board member Jim Unruh stand with Sen. Sam Brownback.)

As president of BOMA, what are some of the different things you’ve focused and worked on?

This will be my second year of my term as president of BOMA Kansas City. My biggest goal has been to involve the board members more in the bigger picture of BOMA National, in addition to our work on Capital Hill. We have been able to budget a larger attendance at both the national conference as well as the winter business meeting and the national issues conference in D.C. By doing so, we are able to bring back a broader perspective of what BOMA does both on the national level to benefit members as well as how we affect legislature both on a local level as well as a national level.

Can you talk a little about the BOMA Expo?

BOMA Expo is an event that takes place each year in May. The event takes place in Union Station, which lends both historical beauty and an excellent layout for the expo. This was our seventh year and it broke attendance records — topping over 500 property managers, building owners, maintenance engineers, vendors and contractors and property administrators. The food is excellent and many of the exhibitors give away some very generous door prizes. A portion of the proceeds raised go to benefit Heartland Habitat for Humanity, so we are having fun and also helping out a good cause. There is also an educational seminar prior to the event, which this year was sponsored by ASHRAE (American Society of Heating, Refrigeration and Air Conditioning Engineers). Dave Grosdeck, our past president, chairs the event and has done a fantastic job of bringing building professionals together in a fun and exciting networking environment.

BOMA does an exceptional job of making a presence throughout the legislative and governmental side, as well as the commercial real estate side. How do you manage to balance all of your efforts?

The balance is achieved by utilizing the BOMA network and the members of BOMA Kansas City.BOMA, as a business trade organization, focuses on member benefits as well as efforts on how we can improve commercial real estate both on the information side and the legislative side. One example is our efforts in the “green” arena. Locally, we have a Green Committee that has developed a handbook for members to assist in locating both vendors and products designed specifically in reducing chemical waste, recycled products, energy conservation, and the list goes on.

Advocacy is an important part of the BOMA mission and through out Advocacy Committee we strive to keep our members informed on issues facing the real estate industry. We participate on a local and national level by visiting state legislators in Jefferson City and Topeka. We participate in the annual National Issues Conference in Washington, D.C. where BOMA KC members lobby our Missouri and Kansas senators and representatives on tax and energy policy before it becomes law. We also invite state legislators to our lunch meetings, which gives our members the opportunity to ask questions and meet the people representing the areas where they live, manage or own buildings. On the BOMA KC website members can find information on national and local issues. As an organization BOMA KC is a member of the Missouri Growth Association and the newly formed Commercial Real Estate PAC.

(Below, BOMA members stand outside the Capital.)

The current use of tax credits in the state of Missouri has been as issue BOMA members are trying to rectify. Can you offer any insights on what steps are being taken to provide the most efficient return on the state’s investments?

There are many projects in Kansas City that would not happen without tax credits. The tax credit program is a program that benefits all Missouri towns. Without the partnership between developers and the government, many historical buildings could not be saved and repurposed, and many blighted areas would not be redeveloped and made more livable and enjoyed by the entire community. There are many studies available that prove the benefits of the tax credit program. In fact, on the BOMA KC website, the studies and articles on the benefits of the tax credit programs are available for review.

What kind of education products does BOMA offer?

Our education committee offers courses related to our industry that are both useful in our jobs but also can be used toward one of our designations. Education courses range from Building Operations, Asset Management, Finance and Accounting, Legal issues, ethics, and more. Our designations apply to RPA (Real Property Administrator) FMA (Facilities Management Administrator) and SMA (Systems Management Administrator). All are well recognized and respected designations throughout the real estate industry. Our local chapter administers the classes here in Kansas City.

What are the benefits of being a BOMA member and how does one get involved?

BOMA members gain access to an extended group of commercial real estate professionals with similar interests and concerns. These people become allies instead of competitors. Members benefit from the knowledge and experience of highly skilled BOMA professionals who are their partners in resolving the more pressing challenges faced every day. We also offer member-only discounts on seminars and other BOMA education programs.

BOMA members acquire the techniques and strategies to succeed with BOMA’s different educational programs, our award winning publications, which have up-to-date information on the top commercial real estate issues, trends, statistics and news. Our members influence a $4.6 trillion market place that is 20 percent of the gross domestic product of the United States.

To get involved with BOMA contact Susan Moore at 816-985-7053 or go to our website, www.bomakc.org