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KCADC among top 10 eco devo groups in the country

Kansas City skyline. Photo by Eric L. Bowers via Downtown Council.

The Kansas City Area Development Council received some well-deserved recognition this week when Site Selection magazine announced the organization had been named one of the top 10 economic development groups in the country.

Kansas City “is competing for MVP status in economic development,” according to the magazine, which cited a number of statistics as factors that helped KCADC make the list. They include 80 facility deals that created 7,667 jobs and generated $1.96 billion in capital investment in 2011, which resulted in “the two-state Kansas City metro area” performing “at a rate normally associated with much larger cities,” according to Site Selection.

Bob Marcusse. Image via KCADC

Each year, the publication evaluates each metro and micro economy in the nation “based on jobs and capital investment generated by corporate facility projects. We factor into our rankings creativity of economic development strategy; depth and breadth of project activity; ability to generate breakthrough deals; and the ability to properly document the contributions of the economic development organization to actual project results,” according to Site Selection.

Bob Marcusse, CEO of KCADC, said 2011 “was one of our best years ever” in an interview with the magazine. “A big portion of that was Google’s decision to create its first high-speed data serve in Kansas City on both sides of the border. It is at least a half-billion dollar investment.”

Houlihan’s may be up for sale

Image via Houlihan's

Houlihan’s Restaurants Inc., based in Leawood, might just be considering a sale. The company isn’t sharing many details, but did note that it had enlisted the help of Piper Jaffray, a global middle market investment bank and asset management firm, to help explore possible options.

Houlihan’s currently operates a total of 101 restaurants, 55 of which are franchise locations and 46 of which are corporate. The restaurant has 6 locations in the Kansas City metro area.

CoStar report shows local Q1 office activity

Image via CoStar

CoStar recently released a report that examines office activity in the Kansas City metro during the first quarter of 2012.

According to the data compiled, no new space was completed; 132,594 square feet of office space is currently under construction.

The report also identified the largest projects that are currently underway, including 5200 W. 116^th Place, a 102,183-square-foot building that’s 100 percent pre-leased; and 2105 Independence Boulevard, a 30,411-square-foot facility that is also 100 percent pre-leased.

Save the date: KC Crew annual Signature Golf Tournament

Image via BunkerShot.com

Summer is almost here, and that means golf tournament season is upon us! Save the date for KC CREW’s annual Signature Golf Tournament, to be held August 20 at Meadowbrook Golf & Country Club, 9101 Nall Avenue, Prairie Village.

The tournament kicks off at 9 a.m. and will be played in a four-player scramble format. Additional events include a longest drive contest, closest to the pin challenge and a $10,000 hole-in-one shootout. A portion of the proceeds will benefit the CREW Network Foundation, a charitable foundation and the philanthropic arm of the Network of Commercial Real Estate Women.

For details and to register, click here.

~Annual Industry Expo attracts vendors for networking opportunities~

Three of St. Louis’ most influential commercial real estate organizations came together last week to present the 7^th Annual Industry Expo.

The event, which was sponsored by BOMA (Building and Managers Association), IREM (Institute of Real Estate Management) and IFMA (International Facility Management Association) and hosted by the Sheraton Westport Chalet on Thursday, May 10, brought together 65 area exhibitors for the purpose of showcasing their products and services and networking with other area vendors.

According to BOMA board member Brian Buie, “This event is all about the opportunity to build relationships with other vendors. “

Brian Buie, BOMA Board Member (right) and Glen Flavish, Wesptort Property Manager.

Approximately 65 vendors from commercial cleaning services to landscapers to commercial contractors were on hand to represent the vendors who support the commercial real estate industry in St. Louis.

Representatives from many of the participating vendors gather for a photo.

Event coordinators Dawn Mills of BOMA and Susan Wagner of IREM estimate that there were approximately 250 attendees at the Expo.

“It has been very successful,” said Mills. “It was a great networking opportunity; especially for property owners to connect with vendors.”

Tina Leuhrmann of IREM (left) and Dawn Mills of BOMA.

In the spirit of this year’s theme, It’s Your World. Manage It, vendors all portrayed different parts of the world.

Royal Papers President Paul Passanise and his team represented France. Royal Papers specializes in commercial janitorial products.

From left: Eileen Saunier, director of marketing, Jennifer Jansen, executive assistant, Paul Passanise, president and Tina Passanise Emig of Royal Papers.

“It was good. We had very good representation. We just walked around and talked to people,” said Passanise. “We had snacks and filets from Café Napoli. It was good to let people know we had more to offer than just toilet paper.

Among the many vendors was Ambius Design, an interior landscaping design company.

Charelee Storner, botanical stylist for the company immolated the world under the sea.

Charelee Storner, botanical stylist for the company emulated a world under the sea.

Frost, an electrical supply company, was there for the event.

From left: Rose Laws, Claudia Gabay-Jones and Dominie Sabatino-Donat

“This event was great for marketing awareness and branding,” said Dominie Sabatino-Donat.

Members of Diversified Contractors in St. Louis (pictured below) took on the land of Oz with their portrayal of Glenda, the Good Witch, the Wicked Witch of West and the Wizard of Oz himself.

Attendees Terry Howell and Shirley Battenger of Cassidy Turley (below) were pleased with the level of participation.Shirley Battenger (left) and Terry Howell of Cassidy Turley

“There was a lot of good representation of vendors here today,” Battenger said. “We were able to meet many new vendors.”

Added Howell, “We were able to meet new vendors and meet people who we help with issues,” Howell said.

Woodard Cleaning and Restoration Services was the event’s global sponsor.

Woodard was an event Global Sponsor

Scott Olson of McGrath & Associates is the board member, project manager and recording secretary for the employee-owned organization.

“We specialize in renovation and design of existing spaces,” said Olson. “A lot of property owners need interior renovation and design work done. We are in construction management; a full design-build firm.”

“We were looking to gain name recognition,” said Ken Knobbe, McGrath president and chief financial officer. “I think we got what we were looking for.”

Kenneth Knobbe (left) and Scott Olson of McGrath & Associates.

Donna Joerling of Facility Services Group thought the event was successful.

“Today was all about vendors who service and prospect to people who need their services,” said Joerling. “We prospect to people who need office furniture for moves, liquidations and reconfigurations. A big trend today is short panel office space and used furniture. We were able to talk to a lot of good prospects.”

Katy Jacobs (left) and Donna Joerling of Facility Services Group.

Lee & Associates expands local staff with two new hires

Erik Murray

Two new hires have added to the staff at Lee & Associates’ Kansas City office. Erik Murray, CCIM, joined Lee & Associates as principal, and Corey DeLong was hired as an associate.

Murray began his commercial real estate career in 2004 with Trammell Crow Company, and has worked as a leading industrial broker at Colliers Turley Martin Tucker and principal at Point Commercial. Throughout his brokerage career, Murray has been responsible for more than 6 million square feet of industrial and investment transactions valued at more than $250 million. Murray’s client list includes CertiFit Auto Body Parts, Beacon Roofing Supply, Toyota Motor Sales USA, Premium Waters and Kimberly-Clark.

Nathan Anderson, managing principal of Lee Kansas City, says Murray’s hire proved to be a smart strategic move for the company.

“This is an exciting period of growth for Lee & Associates and tapping an experienced professional such as Erik is a perfect reflection of the times,” Anderson says. “As a recognized expert in the industrial industry with an extensive background, a successful track record and strong client relationships, Erik is a valuable addition to our Kansas City office.”

Cory DeLong

DeLong also brings industrial experience to his new position at Lee & Associates. He partnered with Murray on Point Commercial’s industrial services team, and will primarily manage the day-to-day operations of the team’s sales and leasing clients and coordinate the transaction management process for national corporate services clients.

Lee & Associates is the largest broker-owned firm in the nation and has 46 locations across the country, including in Arizona, California, Illinois, Kansas, Missouri and New York, among others.

Images via Lee & Associates

HomeGoods to move into vacant space at Ward Parkway Center

Home furnishings retailer HomeGoods will move into a 40,080-square-foot space in Ward Parkway Center, an area previously occupied by Stein Mart.

Image via Ward Parkway Center

The Ward Parkway location will join three other HomeGoods locations in the Kansas City metro area, including Kansas City, Olathe and Blue Springs. This marks the latest in a series of retail openings at Ward Parkway Center, including the expansion of Gary Gribble’s Running Sports, AMC Ward Parkway 14’s renovation and last year’s opening of popular grocery store Trader Joe’s.

“As an off-price retail store offering high-quality home fashions at incredible values, HomeGoods will be a welcome addition to the area,” Lori Cogan, Ward Parkway Center general manager, said in a release.

BRES’ Stephen J. Block honored during MainCor event

Stephen J. Block speaks during The Main Event

Earlier this month, members and supporters of the Main Street Community Development Corporation gathered to mark the organization’s 30^th anniversary. During The Main Event, community and business leaders celebrated the accomplishments made in Midtown’s Main Street District since 1981.

Significant contributions from the past and present were recognized during The Main Event, including the dedication of the Thomas G. Patterson Plaza, named in honor of former MainCor board chair and longtime Crown Center Redevelopment staffer.

During the festivities, MainCor also took a moment to recognize the recipient of the I.J. Mnookin Award for exemplary service: Stephen J. Block of Block Real Estate Services.

The award was given to Stephen in recognition of his many commercial real estate contributions to Main Street, including the Marriott, Utrecht Art Supply, Clint’s Comics, 1^st Bank Building, Midtown Marketplace, Children’s TLC, Union Hill Fairfield Inn, Park Reserve Condos, Enterprise Rent a Car, Union Hill Redevelopment and Union Hill Animal Hospital, among others.

Image via BRES

BOMA joins other organizations to host 2012 CRE Expo

Commercial real estate professionals gathered Wednesday at Union Station for the 2012 Kansas City Commercial Real Estate Expo, an event that combined networking, exhibits and educational sessions.

For the first time, the expo also included a panel discussion that featured the presidents and chairs of BOMA, ASHRAE, IFMA and IREM, all of which sponsored the expo along with the Greater Kansas City Chapter of the U.S. Green Building Council. The panelists were BOMA’s Boyd Zoccola of Hokanson Companies, Inc.; ASHRAE’s Ron Jarnagin of Pactific Northwest National Laboratory; IREM’s James A. Evans, CPM, of Bruce G. Pollack & Associates, Inc., and IFMA’s Kathy O. Roper, CFM, MCR, LEED AP, IFMA of the Georgia Institute of Technology School of Building Construction.

During the discussion, moderated by Chuck Connelly of the Lewis Wright Real Estate Center, the participants shared their thoughts on a number of key issues, including the economy, property management, legislative issues, the value of sustainability and new technology enhancements and how they’re being used in the CRE industry.

After the discussion, the expo kicked off with 126 exhibitors both local and nationwide, as well as a number of educational sessions that included information on LEED, construction recycling and leadership in sustainability, among other topics. BOMA’s Katie Cone says the event was a huge success.

“The expo was great—very well-attended,” she says. “I believe we surpassed our numbers from last year.”

More opportunities to mix and mingle with BOMA members are coming up. On June 28, BOMA and YREP will host an Emerging Professionals Summer Happy Hour from 5 to 7 p.m. at O’Dowd’s on the Plaza. Any young professionals involved with the real estate industry are invited to attend and network with their colleagues.

Additionally, BOMA’s annual golf tournament will be held on September 10 at Tiffany Greens Golf Course. Visit BOMA-KC’s website for details on the organization and upcoming events.

Images via BOMA-KC

Union Station hits leasing milestone

Image via Union Station

Over the last few years, Union Station has been in the midst of a revival—and that transformation hit a milestone this week when the iconic Kansas City landmark reached 100 percent occupancy of its available office space.

Two new tenants helped Union Station fill its remaining occupancy: Integrity Computer Services and the Frontier School System.

Leasing available office space has become an important part of Union Station’s long-term strategy, which has been a focus since the building was restored and reopened in 1999 as a result of a previously unprecedented bistate sales tax.

The facility has also cut costs and has implemented a bigger push to bring in nationally renowned exhibits like “Diana: A Celebration” and “Titanic: The Artifact Exhibition,” all of which add up to increased earnings for the building.

Other occupants include the Greater Kansas City Chamber of Commerce and the Kansas City Area Development Council, both of which moved to Union Station at the end of 2012. The Kansas City Board of Election Commissioners, the University of Missouri-Kansas City and the Life Sciences Institute also lease space at Union Station.

VinSolutions expands regional office

As a result of growing operations, VinSolutions expanded its regional office into 17,962 square feet of space in Mission Tower, located in Mission, Kan.

Susan Smith. Image via Zimmer Real Estate Services

Susan Smith, vice president of sales and leasing at Zimmer Real Estate Services, represented the landlord, Bannister Realty. Ryan Schneider of Jones Lang LaSalle represented the tenant in the transaction.Mission

VinSolutions consolidates data from all areas of an automotive dealership, which helps dealers find, sell and keep customers with a fully integrated Dealership Marketing System. The company’s all-in-one internal management and external sales and service marketing solutions platform offers dealers a number of services, including search marketing, online advertising, social media marketing, mobile marketing, websites, CRM, sales force automation, appraisal, finance and more.

Aragon Holdings buys Lee’s Summit apartment complex

With the purchase of The Fairways at Lakewood in Lee’s Summit, Aragon Holdings has increased its total portfolio to more than 3,000 apartment units and an investment valued at more than $200 million.

This most recent acquisition marks Aragon Holdings’ 12^th acquisition in just 3 years. The Fairways at Lakewood is a 274-unit class A multi-family property that was built in 2008 and is 94 percent occupied.

Several factors made the property an attractive asset, including a prime location near Interstate 470 and several employment centers, including three major healthcare facilities. Additionally, the Fairways at Lakewood offers a number of amenities including a salt water infinity pool; a three-acre lake; a walking trail; a 24-hour fitness center; a 24-hour business center; a clubhouse with pool table; kitchen and entertainment facilities; a fire pit and commercial-grade barbecue pit; and a car wash.

And Lee’s Summit as a whole represents a strong submarket for Aragon Holdings, which aligns with the company’s plan to purchase additional multi-family properties in cities that show population and positive job growth.

Larry Clark. Image via Aragon Holdings

“It is now clear that the upheaval in the single-family housing market during the past several years has led to a fundamental change in housing preferences of American families,” said Larry Clark, president of Aragon Holdings, in a release. “There has been a significant increase in the propensity to rent rather than own, especially among individuals in the earlier years of their careers.”

Added Clark, “The preference for renting, combined with the very low rate of new housing construction, will result in a steady increase in the demand for apartment housing. We believe the favorable trends in both demand and supply will cause apartment properties in well-selected areas to continue to outperform most other investment alternatives.”

Aragon Holdings is a Beverly Hills-based real estate investment company. Details of the Fairways at Lakewood transaction were not disclosed.

Overland Park approves bonds for Teva move

A rendering of Teva Neuroscience, Inc.'s new Overland Park office

The Overland Park City Council agreed Monday night to issue $65 million in bonds to solidify Teva Neuroscience Inc.’s move from Missouri to Kansas.

The company currently has offices at Holmes Road and Interstate 435, and is planning to move to a new building at Nall Avenue and College Boulevard.

Teva had recently sought financing to assist with costs associated with the relocation, including building construction. The bond issuance will also help fund the land acquisition.

The bonds include a 10-year, 50 percent property tax abatement. Additionally, Teva will receive $30.6 million in incentives from the state of Kansas. It’s a hefty investment, but the relocation will bring 350 full-time jobs to Overland Park, as well as the possibility of future jobs. Teva may also construct a second building at the same location at a later date, should company growth lead to a need for more space.

Teva Neuroscience, Inc., is a subsidiary of Teva Pharmaceutical industries that markets COPAXONE and AXILECT. The company “offers a total approach to disease management and has established several innovative and effective patient education and advocacy programs,” according to Teva Neuroscience.

BRES gathers to support ‘Martinis for Preemies’

Block Real Estate Services and KC-RAR employees recently gathered to celebrate the second annual “Martinis for Preemies” fundraiser to benefit Kit’s Muse, a division of Project Sweet Peas that funds NICU care package and infant loss memory box programs at St. Luke’s, Children’s Mercy and Liberty hospitals.

Among those who came out to the event include Jennifer Edwards, division coordinator, with Lou Serrone and Zach Hubbard, BRES brokers, pictured below.

BRES employees Vicki Kelly, Michelle Kelly, Will Noyce, David Garcia, Jennifer Edwards, Joyce Marcus, Amy Spry and Ken Steen, pictured below, also gathered at Tomfooleries for the event.

The celebration raised a little over $300 for the organization, enough to provide 20 families with much-needed NICU or loss support. The mission of the organization is to provide comfort and support for families who have children in intensive care or those who have experienced pregnancy and infant loss.

Voice your opinion on KC streetcar during upcoming public meetings

Have an opinion on the proposed downtown Kansas City streetcar? The City of Kansas City is hosting three public meetings so that interested citizens and business owners can get project updates, learn how the streetcar would operate and share any feedback they have about the project.

The streetcar proposal calls for a 2-mile starter line that would run on Main Street from the River Market to Crown Center. The streetcar would operate seven days a week with stops located every two blocks.

The project is far from finalized but continues to move forward. Most recently, Jackson County Circuit Judge Charles Atwell upheld the city’s proposed special taxing district that would support the streetcar system.

Under the district, business owners would see property tax increase by 52 cents per $100 of assessed value. Sales would go up by 1 percent. For example, the owner of a $1 million commercial property would pay $1,664 more per year.

The streetcar project carries an estimated price tag of $100 million. Funding will come from several sources, including the city, federal government, local community, riders and advertisers.

A number of project details still need to be finalized, including route details like specific stop locations, as well as issues like noise, vibration, traffic and construction effects. Construction on a streetcar line is different from road construction in that it would be completed in segments of 2-3 blocks at a time. The city has pledged to work with business owners and residents along the streetcar route to minimize disruptions.

Interested parties with feedback on these and other streetcar-related issues are encouraged to attend this month’s public meetings. The schedule is as follows:

Tuesday, May 15 (4-7 p.m.), Helzberg Auditorium, Kansas City Public Library (14 W. 10^th St.)

Wednesday, May 16 (4-7 p.m.), Atrium, Steamboat Arabia Museum (400 Grand Blvd.)

Thursday, May 17 (4-7 p.m.), Arthur Stilwell Room, Union Station (30 W. Pershing Rd.)

The proposed streetcar schedule calls for construction to begin in mid- to late 2013, with opening day slated for mid-2015.

Mixed-use project moves forward in Lenexa

Lenexa City Hall. Image via City of Lenexa

A 51-acre mixed-use project moved a step forward after receiving unanimous approval from the Lenexa City Council to hold a public hearing about the project on June 5.

The proposed project will include residential, commercial, retail and restaurant development at the northwest corner of Prairie Star Parkway and Renner Boulevard and will be developed by two companies related to Price Development Group.

Earlier this week, the Lenexa City Council met to determine whether a public hearing about the project’s tax increment financing plan would be held on June 5.

If given the green light, the proposed project would become the third within Lenexa’s Mining TIF Plan, a 400-acre project that began in 2004. The area is already home to a golf course, office park and Kiewit Corp.’s offices.

Save the date: Midtown Real Estate Exchange

Linwood Law Building. Image via LoopNet

If you have listings in Midtown or have clients who are interested in the area, be sure to save the date for the Midtown Real Estate Exchange, to be held from 9:30-11 a.m. on May 16.

The event, which will be hosted by Jolley Walsh Hurley & Raisher and Greg Patterson & Associates, is a great opportunity for attendees to share building availability, prospect requirements and any news about what’s happening in Midtown.

The exchange will be held at the Linwood Law Building, 204 W. Linwood Blvd. For more information and to RSVP, contact Susan Scott at 816-668-7276 or sscott@gpattersonassoc.com.

CoStar closes LoopNet acquisition

Image via downtowndc.org

CoStar Group, Inc., announced Monday that the company had completed its acquisition of LoopNet, Inc., a merger that unites “commercial real estate’s leading provider of information and analytic services with the leading online commercial real estate marketplace,” according to CoStar.

Now that the acquisition is final, the goal is to create “the premier information, marketing and analytics company in commercial real estate,” said Andrew C. Florance, CoStar Group’s founder and CEO, as quoted in a CoStar story by Tim Trainor.

The two companies each bring a set of strengths to the table. CoStar operates “the largest and most robust” commercial real estate information database that includes 81.8 billion square feet of office, retail and industrial inventory; 1.5 million listings; and 12.7 million images.

Andrew Florance. Image via CoStar

LoopNet.com is the commercial real estate industry’s “largest and most heavily trafficked online marketplace” that currently has 5.8 million registered members and 3.6 million unique monthly visitors, according to statistics available through Google Analytics and CoStar.

Going forward, the newly combined company will be branded under the name CoStar Group, Inc., yet the intent is to operate LoopNet separately.

“As commercial real estate brokers and owners continue to move property listings to online channels, we fully anticipate LoopNet’s marketplace will become increasingly important to those marketing or searching for properties,” said Florance, as quoted by Trainor. “The LoopNet brand is very important. Our strategy is to build upon Loop Net’s position as the premier online marketplace for commercial real estate and strengthen its products and services.”

Cresa taps Jim Leslie as next CEO

Jim Leslie

Cresa, North America’s largest tenant representation firm, announced that Jim Leslie will be the firm’s next Chief Executive Officer. He’ll succeed Bill Goade, who founded the firm in 1993.

Leslie previously worked as president and COO of The Staubach Company, a leading tenant representation firm that was acquired by Jones Lang LaSalle in 2008.

Leslie brings a wealth of experience to his new position, including previously serving as a founder of Cresa’s Capital Markets Group. While at Staubach, Leslie helped the company grow in excess of 35 percent each year, in addition to dramatically increasing shareholder value. He’s long been involved with entrepreneurs and emerging companies and has been instrumental in the creation of more than 50 companies.

Dean Heueisen

“We are extremely fortunate to have Jim as our next CEO,” said Goade in a release. “His experience, leadership, management skills and deep understanding of our organization will be instrumental as Cresa seeks to leverage its recent dramatic growth.”

Leslie assumed his new duties yesterday.

Cresa operates a number of offices across the globe, including a location in Kansas City that’s led by Tim Fisher, managing principal, and Dean Heueisen, principal. According to information provided by the company, Cresa is “the only international exclusive tenant representation firm with an office in Kansas City.”

Cassidy Turley opens Los Angeles office

Cassidy Turley continues its national expansion with a new office in Los Angeles. A team of industry veterans will lead the new location, including: Jonathan Larsen, regional managing principal; Suzanne Lee, managing director, principal; Eric Moore, managing director, principal; and Katie Bernhisel, vice president.

The selection of the office’s managing team was a key part in preparing to open the new location, according to Mark Burkhart, Chief Executive Officer, Cassidy Turley.

“With these key additions to our team, Cassidy Turley is executing one of its major strategic initiatives by developing a presence in the Los Angeles market,” Burkhart said in a release. “It was important to find the right people to lead this office, since Los Angeles is a critical market for our clients. Cassidy Turley’s growth strategy is selective, thoughtful and client-led, and we recognize the quality and sophistication that clients demand in Los Angeles.”

Jonathan Larsen

The Los Angeles office will join the more than 60 Cassidy Turley locations nationwide and will complement the firm’s existing presence in San Diego and northern California.

“After learning more about Cassidy Turley, I discovered we share many of the same corporate and institutional clients,” Larsen said in a release. “But perhaps what attracted me most to the company and its leadership is that we share the same values and culture. Suzanne, Eric, Katie and I admire their commitment to client service and quality execution as well as their focus on market, industry and community leadership. This mirrors our own business strategy and we’re excited to be leading the charge in Los Angeles.”

REALTORS Commercial Alliance of Kansas City honors Heavy Hitters

The REALTORS Commercial Alliance of Kansas City gathered earlier this month at the Plaza III Steakhouse to honor the Heavy Hitters in commercial real estate. Eric Murray, 2012 President of RCAKC, served as the evening’s master of ceremonies. This year’s awards included:

2011 Allen J. Block REALTOR of the Year: Stephen J. Block, Block Real Estate Services (pictured above)

2011 Roger Cohen Salesperson of the Year: James A. Gates (above), Kessinger/Hunter & Company

2011 Rookie of the Year: Cory DeLong (pictured above), Lee and Associates

2011 REALTORS Commercial Alliance Homerun Award: Kenneth Block, Stephen Block, Daniel Durkin and Brad Simma (pictured above), Block Real Estate Services

Top Three: Industrial Volume

First place: Michael Block (above), Block Real Estate Services

Second place: Mark Long, Zimmer Real Estate Services

Third place: Nathan Anderson, Lee and Associates

Top Three: Office Volume

First place: Gene Elsas (above), Block Real Estate Services

Second place: Bob Fagan, CB Richard Ellis

Third place: Jim Gates, Kessinger/Hunter & Company

Top Three: Investment Volume

First place: Jon England (above), Lee and Associates

Second place: Mike VanBuskirk, Zimmer Real Estate Services

Third place: Brian Beggs, Aaron Mesmer and Grant Reves, Block Real Estate Services

Top Three: Retail Volume

First place: Stephen Block (above), Block Real Estate Services

Second place: Kim Bartalos, Block Real Estate Services

Third place: Mike Sweeney, Charles F. Curry

H&R Block to cut 350 jobs, close 200 offices

H&R Block headquarters. Image via ThinkKC

As part of a broad strategic realignment, H&R Block announced Wednesday that the company will eliminate 350 jobs and close approximately 200 under-performing company-owned offices.

“Following the completion of my first tax season and a strategic review of our organization, we believe this realignment is an important next step in becoming a nimbler, more profitable and more client-centric company,” said Bill Cobb, H&R Block’s President and Chief Executive Officer, in a release. “We have settled on a new organizational structure and identified more efficient ways to operate. We believe these actions will allow us to compete more effectively, more quickly respond to our clients’ needs and invest in our future as we intensify our efforts in our core businesses.”

As a result of the realignment, the company expects “to realize net annualized savings of $85 to $100 million by the end of fiscal year 2013,” according to H&R Block.

The company has not yet released a list of which company-owned offices will be closed. The eliminated positions will come from the company’s Kansas City headquarters and nationwide locations. A voluntary separation program will be offered, and involuntary separations will follow if needed.

~Five Below moves up in St. Louis~

Five Below announced Tuesday that it plans to open four St. Louis area stores.

Five Below opens five new St. Louis area locations.

The discount retailer, which carries a variety of merchandise ranging from apparel to crafts to accessories with prices ranging from $1 to $5, will open as soon as this Friday with locations in Chesterfield Commons at 54 THF Blvd. in Chesterfield, Central Plaza at 15341 Manchester Rd. in Ballwin, Lincoln Place Centre at 5927 N. Illinois St. in Fairview Heights and The Promenade at Brentwood at 83 Brentwood Promenade in Brentwood. A fifth lease has been signed for the Target Plaza in Florissant.

“Our expansion into St. Louis follows closely on the heels of our market launches in Chicago and Detroit,” Tom Vellios, co-founder and CEO of Five Below, said in a statement. “Our goal is to bring our model to more consumers.”

Tom Velios, co-founder and CEO of Five Below.

The Philadelphia-based company ended fiscal 2011 with a total of 192 stores in 16 states. Five Below plans to open approximately 50 more stores in 2012.

Each store averages 7,500 to 8,000 square feet of retail space and employs about 35 workers.

The company filed with the Securities and Exchange Commission on Wednesday to raise up to $150 million in an initial public offering. The company reported a net income of $16.1 last year, up from $7 million in 2010. Net sales reportedly increased from $197.2 million in 2010 to $297.1 million in 2011.

~Abstrakt Marketing Group finds a new abstractly located home~

Abstrakt Marketing Group is moving from their current location in Benton Park to a 15,000-square-foot space in Raeder Place, located downtown.

Raeder Place, downtown, is the new home for Abstrakt Marketing Group.

Planning to eventually expand to 30,000 SF, Abstrakt’s decision to relocate their offices was based on the centralized downtown location and historical value of the building.

Designed by German native Frederick Raeder in 1874, Raeder Place is one of the few remaining cast-iron façade buildings in St. Louis.

It became a city landmark in 1971 and was renovated in 1978 to preserve and enhance its architectural characteristics.

John Warren of CBRE represented the landlord, First Morgan LLC. Dan Barnes of Lee & Associates represented the tenant.

Abstrakt plans to move into the new space June 1^st.

In other CBRE news, CBRE has been named the number one US-based commercial real estate brokerage firm for the ninth consecutive year by National Real Estate Investor, a leading magazine for real estate professionals.

The decision is based on the aggregate value of global sales and leasing transactions for all of 2011.

According to the rankings, CBRE’s contribution for 2011 was $159 million.

“Our clients rely on CBRE for market insight, precise execution and strategic solutions. We are able to deliver exceptional results because of the strength of our people and platform. This is the competitive advantage that has kept us in the number one position in the industry,” said Brett White, chief executive officer of CBRE.

Brett White, Chief Executive Officer of CBRE

For a complete list of rankings, click here.

  ~Junction Solutions moves regional center to St. Louis County~

 Junction Solutions announced on April 17 that they have opened a regional center in St. Louis County.

The company, which specializes in software solutions for the food and beverage industry, is leasing approximately 7,200 square feet of office space, located at 2043 Woodland Parkway.

Junction Solutions is expected to employ between 30 and 50 workers.

The organization will provide sales, consulting services and customized application development for the mid to large-sized market segment in the central United States and Canada.

“Junction Solutions has experienced significant growth, not only in the St. Louis area, but also in Missouri, Illinois, Wisconsin, Oklahoma and Texas,” Jeff Marker, senior vice president for Junction Solutions and director of the St. Louis center, said in a statement. “It just made sense for us to consolidate operations, including project management, implementation support, consulting services, software development and sales, into a single location to better serve our customers.”

Jeff Marker, senior vice president for Juction Solutions.

Englewood, Colo.-based Junction Solutions is a privately-held company led by President and CEO Jeff Grell.

The company employs more than 200 people and has five regional offices in North America.

Groundbreaking ceremony kicks off construction of Cerner’s new campus

Officials gather for the Cerner groundbreaking. Image via the Unified Government

Area officials gathered Tuesday to celebrate the ceremonial groundbreaking of Cerner’s new campus in the Village West area of Kansas City, Kan.

During the groundbreaking, officials also revealed the name of the new campus: Cerner’s Continuous Campus.

“ ‘At Cerner, continuousness is the essence of everything that we do,’ said Cliff Illig, vice chairman and co-founder of Cerner, as quoted by the Unified Government of Wyandotte County/Kansas City, Kansas. “ ‘It’s on this campus here in Kansas City, Kansas, that Cerner will concentrate the human capital that will keep Cerner and its client systems up and operating flawlessly and continuously. In 2013, when this campus opens, the people here will be responsible for continuous operations of more than 30 percent of US healthcare.’”

The first of two towers is scheduled to be completed in May 2013. The second will be completed and occupied in 2014. A large commons area will connect the two towers, which, collectively, will house 4,000 new Cerner associates.

A rendering of the new Cerner campus. Image via Cerner

Plans for the new campus were initially announced in 2010 in conjunction with the construction of Sporting Kansas City’s Livestrong Sporting Park facility. The campus will join a number of recent new construction projects, including Hollywood Casino, Kansas Speedway, The Legends Outlets and Plaza at the Speedway, among others.

” ‘Our focus for over a decade has been to reinvent ourselves by brining solid economic development to our community to diversify our tax base, and benefit our citizens with new job opportunities,’” said Joe Reardon, Mayor/CEO of the Unified Government, as quoted by the UG. ” ‘Today marks a significant step in our progress. Not in that it just continues our partnership model, but it allows us to emerge into the growing areas of technology and health care. It fulfills a vision to not just make this part of our community a tourism destination, but to make it a hub for business and entrepreneurialism.’”

CBRE facilitates sale of Lee’s Summit apartments

CBRE announced the sale of Fairways Apartments in Lee’s Summit, a 274-unit property built in 2008. Located near the upscale Lakewood neighborhood, the immediate area “has seen considerable commercial development in recent years, primarily medical office space,” according to CBRE. “The higher demographic of the submarket was an attractive selling point.”

The sale of Fairways Apartments was completed in April 2012. Beverly Hills-based Aragon Holdings purchased the property for an undisclosed amount. This sale marks Aragon Holdings’ second apartment acquisition in the Kansas City metro area; the first was Timber Lakes at Red Bridge Apartments in south Kansas City, which the company purchased in December 2011.

Jeff Stingley

Jeff Stingley and Doug McFadden of CBRE facilitated the sale on behalf of the asset’s developer, Kansas City-based Dalmark Group. Stingley has directly brokered more than $100 million in apartment sales in the last 12 months.

“We were impressed with Jeff’s attention to detail,” said Larry Clark, president of Aragon Holdings. “We look forward to purchasing additional apartment properties throughout the Kansas City area.”

Leawood’s Park Place lands five new tenants

Image via Park Place

Park Place, a shopping district in Leawood, announced five new tenants that will add to the existing mix of retail, restaurant and office space. The new arrivals include:

*Alysa Rene Boutique, which features designer-label clothing.

*Luxe by Kelley Brady, a clothing store that features brands like Laundry and Susana Monaco.

*Traq 3D, an upscale fitness center that’s scheduled for an August opening.

*Marv’s Original Delicatessen, a New York-style deli to open in June.

*Geno’s Clothiers, a menswear boutique that’s slated to open in August.

Kansas Governor Sam Brownback addresses the crowd at the AMC Theatres groundbreaking. Image via CJOnline

The new tenant activity isn’t the only thing keeping the Park Place area buzzing with activity. AMC Entertainment broke ground on a new headquarters building, which is scheduled for a spring 2013 completion.