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Upcoming Downtown Tour showcases residential, mixed-use properties

Liberty Lofts

Whether you want to live or work downtown, the upcoming Downtown Homes Tour will showcase a diverse array of properties that include lofts, condos, townhomes, single-family homes, mixed-use buildings and vacant land zoned for residential use.

Sponsored by Boveri Realty Group, the Downtown Homes Tour will be held from 12 to 4 p.m. on Sunday, April 1.

“This is a rare opportunity to see a diverse range of some of downtown’s finest properties,” says Christina Boveri, owner of Boveri Realty Group.

Downtown Kansas City continues to be a hot spot for residential real estate, thanks to an ongoing redevelopment that has transformed the city’s urban core. In recent weeks, tens of thousands of visitors have spent time downtown for events like the Auto Show; the MIAA, NAIA and Big 12 basketball tournaments; and performances at the Sprint Center and Kauffman Center for the Performing Arts.

Wallstreet Tower

And for those who prefer to live downtown, rather than just visit, an urban dream home awaits. Featured properties on the Downtown Tour include:

Union Carbide (912 Baltimore #502 and penthouse)

Summit at Sixteenth (723 W. 16^th St.)

Liberty Lofts (360 W. Pershing #320)

Gillham Row (2925 Gillham)

Coffee Lofts (321 W. 7^th #501)

Westside House (1816 Jefferson St.)

Wallstreet Towers (1101 Walnut #2009)

Riverbend Lofts (200 Main St., #504)

Westside House (2129 Belleview)

River Market Building (426 W. 5^th St.)

Westside Lot ($105,000)

Crossroads Building (1517 Oak St.)

Westside Lot (1800 Mercier)

Riverbend Lofts

Prices range from the upper $70,000s to more than $1 million. Three of the loft spaces are unfinished or raw space, meaning buyers have the opportunity to create a perfectly customized space.

For more information on the tour, call (816) 333-4040.

DST Brokerage Solutions announces formation of DST Market Services, LLC

Stuart Bowers. Image via DST.

DST Brokerage Solutions announced the group has combined two sub-accounting service partners to form DST Market Services, LLC, which will specialize in delivering mutual fund processing and sub-accounting services.

DST Market Services, LLC, was formed through the merger of DST TASS and Wall Street Advisor Services. Because the new company is a registered broker-dealer, it offers a unique set of services, according to DST Market Services President Stuart Bowers.

“Being a broker-dealer will help us sharpen our focus and delivery of services and strategically aligns our interests and values with those of our customers,” Bowers said in a release. “We also believe that DST Market Services more accurately describes the comprehensive set of solutions we provide to our clients. We look forward to sharing our vision for DST Market Services with our customers and the financial intermediary community as we continue to invest in new tools, technology and solutions.”

DST Market Services will be a leading provider of mutual fund subaccounting services “that uniquely combines broker-dealer operations experience, a deep understanding of subaccounting work flow processes and leverages DST’s technology platform to deliver a complete subaccounting solution.”

Midtown project receives committee approval, moves to council

Bob Mayer

A commercial and residential development, proposed by development company UC1 LLC and represented by Bob Mayer, president of MR Capital Advisors, has received approval from Kansas City’s Planning, Zoning and Economic Development Committee.

The proposed two-acre development will be located in Midtown and includes an unnamed restaurant franchise, planned near Little Egypt Café. The project’s second phase will feature a 118-unit apartment building.

The Planning, Zoning and Economic Development Committee approved resolutions that amend the Main Street Corridor Land Use and Development Plan and the Westport Land Use Plan. Additionally, approved ordinances rezone the involved acreage and give a green light to the 39^th Terrace PIEA General Development Plan.

The project will now move to the full Kansas City Council for voting.

Save the date for “Cheers for the Children”

The Well. Image via The Pitch.

Join the Young Advisory Board of The Children’s Place for “Cheers for the Children,” a fundraising happy hour. The event will be held from 5:30-8:30 p.m. on April 12 at The Well (7421 Broadway, Kansas City). Admission is $20 and includes appetizers and two drinks. Door prizes will be given away. Purchase tickets online by clicking here or at the door.

Proceeds benefit The Children’s Place, which provides critical early intervention services to the community’s youngest members who have suffered abuse and neglect.

“As a recognized leader in the treatment of children traumatized by abuse and neglect, the services provided are of the highest quality with accreditation received from The Joint Commission and the National Association of the Education of Young Children,” according to The Children’s Place.

CBRE hosts annual industrial investor breakfast

Last week, CBRE – Kansas City held its 7^th annual industrial investor breakfast, an event that attracted 60 attendees from around the country.

Joe Orscheln, an associate with CBRE, says the breakfast is an opportunity for institutional clients to join local investors and owners for a discussion about the local and national market—as well as what’s to come later this year.

Mike Caprile of the CBRE Industrial Capital Markets National Partners team delivered a presentation about capital markets trends. Ed Schreyer, executive managing director of CBRE’s industrial services platform, offered some comments regarding the national market perspective.

In terms of both current and forecasted activity, the news is good.

“Activity is up and we’re running out of class-A space in Kansas City,” Orscheln says.

Adds Mike Mitchelson, CCIM, SIOR, vice president of CBRE’s Kansas City office, “We are projecting that we will do $75 million in industrial investment sales in 2012.”

And when it comes to comparing Kansas City with the national market, Mitchelson says Kansas City is “faring about the same or a little better. Vacancy is lower. We’re poised for recovery, and we need someone to build spec space. In the class A market, there are very few buildings.”

An aerial view of Riverside Horizons. Image via City of Riverside

Much-needed new space is expected to be built in the metro area this year. NorthPoint Development is close to breaking ground on an industrial spec building at Riverside Horizons. The 155,000-square-foot spec building will house tenants in the 22,000- to 155,000-square-foot range, Orscheln says.

The investor breakfast is held annually, and is scheduled to coincide with the Big 12 basketball tournament. Networking, industry insight and several days of basketball games? That’s what we call a winning combination.

FAA’s move to Kansas City in jeopardy

Image via the Missouri Department of Tourism

Last October, the Federal Aviation Administration accepted a bid from Kansas City to house the FAA Executive Management Training and Conference Center in downtown’s Lyric Theater building.

Plans for the FAA’s relocation are now in jeopardy. On Monday, the FAA informed Kansas City officials that the agency had rescinded its decisions and canceled relocation plans.

U.S. Senator Claire McCaskill (D-Missouri) has been especially vocal in opposition of the FAA’s sudden decision.

Image via Senate.gov

“I was shocked to learn this morning that the FAA has decided to cancel the solicitation for a new FAA Executive Management Training and Conference Center,” McCaskill wrote in a letter to the FAA. “I have serious questions about the process the FAA has followed in arriving at the decision to rescind the solicitation and, thereby, its plans to move the management training facility to Kansas City. Such an about-face by the FAA, after significant investment of taxpayer resources in carrying out the solicitation, is deeply troubling. As you know, local stakeholders in Kansas City, in reliance on information provided to them by the FAA, have also already invested substantial sums of money in this project.”

McCaskill gave FAA officials a deadline of today to respond to the questions outlined in her letter.

The FAA management training and conference center had planned to relocate to downtown Kansas City’s Lyric Theater, which has been unused since the opening of the Kauffman Center for the Performing Arts. DST Realty is overseeing the project, having owned the building since 2007.

The move was expected to bring about 100 new jobs to Kansas City.

Mobile development company selects KC area for company headquarters

Image via Corporate Woods

Automotive Technology Services, a new mobile application development company, has selected Overland Park as its headquarters.

The selection will introduce 26 new high-paying executive jobs to the area.

Robert Shively, president and CEO of ATS, said the company opted to open its headquarters in the Kansas City metro area after a lengthy selection process that involved evaluating markets across the Midwest, including Chicago and Minneapolis.

“The Kansas City area offers ATS access to an innovative workforce and a strong technology community,” said Shively in a release. “We are committed to providing a product that is revolutionizing how the future of used cars will be appraised, bought and sold, and ATS is enthusiastic to grow and find success in Kansas City.”

Bob Marcusse. Image via KCADC

Several area companies and organizations helped bring ATS to the region, including the Kansas City Area Development Council, the Overland Park Chamber of Commerce and Economic Development Council, the City of Overland Park, the Kansas Department of Commerce, Zimmer Real Estate Services, Stoltz Management Company, KCP&L and Kansas Gas Services.

ATS has leased office space in Corporate Woods.

This announcement “is further proof that the Kansas City region is an ideal location for technology companies looking to grow,” said KCADC president and CEO Bob Marcusse in a release. “From Google to ATS, KC offers the ecosystem technology companies need to succeed.”

~The St. Louis Zoo to take over the Forest Park Hospital site~

The St. Louis Zoo may soon be expanding beyond the borders of Forest Park.

The St. Louis Zoo Association has signed a conditional contract with Medline Industries Inc. for the purchase of the 13.5 acre site where Forest Park Hospital now stands.

Forest Park Hospital may soon be demolished to make way for Zoo expansion.

The St. Alexius facility went on the sale block this last April, offering up 530,000 square feet of space for $18.9 million. The main hospital, the Centennial Center, the College of Nursing, the Gerhold Building and the campus boiler house were all included in the package.

The final sale price or terms of the agreement were not disclosed.

The Forest Park emergency room was closed last May due to a decline and patient volume and revenue. A provision in the contract allows Zoo officials to withdraw from the agreement at any time during the expected 120-day due diligence time frame.

According to Zoo president and chief executive officer, Jeffrey Bonner, no taxpayer dollars will be used to fund the purchase. He said they will be able to pay for the property using its sunny day fund; resources earmarked for use in the event of a catastrophic emergency or a golden opportunity.

The additional space will increase to total size of the Zoo to more than 100 acres. While the exact use of the land has not yet been determined, the hospital site located south of Forest Park near the intersection of Berthold and Clayton Road is the only feasible place for expansion.

Bonner said that the Zoo plans to keep the medical office along with the 7-story parking structure, but some of the aging buildings will be destroyed.

Artist rendering of the proposed Zoo expansion.

Possible uses include additional parking and traffic relief. The space could also serve as an educational facility and a hub for life science studies.

Closing is likely to take place in late spring.

“From what we have seen of this property, we firmly believe that this purchase would open up a great opportunity for the Zoo to grow and better serve the community and the preservation of wildlife,” Bonner said in a statement. “If we are successful in completing this acquisition, we will begin a careful planning process, involving a range of stakeholders, to determine how best to use the new property and to re-purpose buildings there for the long-term benefit of the Zoo, our mission to preserve animals, our visitors and neighbors, the park and region.”

~A new affordable housing project incorporates green living and new skills training for under-served residents~

New affordable housing is underway as part of Craig Heller’s North River Development LLC.

The former St. Louis Stamping Company complex, located at First Street and Cass Avenue, is undergoing redevelopment to become what will be known as the St. Louis Stamping Lofts.

The endeavor is the residential component of a $9.8 million project encompassed by a larger development called FarmWorks.

FarmWorks is a multi-concept strategy for helping veterans, the homeless and those with special needs build a foundation to mainstream into society.

Artist rendering of FarmWorks, a project designed to help mainstream residents.

St. Patrick Center will provide training programs to residents. FarmWorks will also serve as a green business incubator with a focus on growing, processing and distributing locally grown food. According to Heller, the idea is for tenants to acquire skills for green-based employment, such as landscaping.

FarmWorks is being financed via federal and state historic and low-income housing tax credits through the Missouri Housing Development Commission.

The tax credits were purchased by St. Louis Equity Fund and Pinnacle Entertainment Inc.,owners of River City Casino and Lumiere Place.

Construction on the four-story building has been underway for about a month with an expected completion date of January 2013.

~St. Louis is home to some billion dollar babies~

Forbes’ 2012 list of world billionaires has been released, and some of St. Louis’ most notable residents made the cut.

Among them are Jack Taylor, founder of rental car powerhouse Enterprise Holdings. Taylor, 89, was ranked number 84 with a net worth of $10.4 billion.

Jack Taylor, founder of Enterprise Holdings makes the 2012 Forbes' billionaire list.

Stan and Ann Kroenke also made the list – each for their own fortune. Ann Kroenke, 63, daughter of Walmart co-founder James “Bud” Walton, placed 288 with a net worth of $3.9 billion.

Ann Kroenke, daughter of Walmart co-founder and St. Louis resident makes the Forbes' billionaire list at No. 288

Her husband, Stan, 64, real estate developer and owner of the St. Louis Rams, came in at number 358 with a net worth of $3.2 billion.

Stan Kroenke, St. Louis Rams owner and real estate mogul, also made the list.

Pauline Keinath, 78, is the descendant of one of the Cargill, Inc. founders. She was number 344 on the list with a net worth of $3.3 billion.

Pauline Keinath, Cargill heir, is also on the list of 2012 orbes' billionaires

Topping the list this year was Mexican telecom mogul Carlos Slim Helu, 72, taking the first spot with a $69 billion fortune, followed by Bill Gates with $61 billion and Warren Buffet at $44 billion.

Photos courtesy of Google Images

CoStar honors Power Broker winners

Each year, CoStar honors the area’s top commercial real estate brokerage firms and brokers that performed at the highest level, achieving remarkable sales and leasing success. The Power Broker awards are given in a variety of categories, and the 2011 winners are as follows:

Top Leasing Firms:
Block Real Estate Services, LLC
Capital Realty, LLC
Cassidy Turley
CBRE
Colliers International
Jones Lang LaSalle
Kessinger/Hunter & Company, L.C.
RED Brokerage, LLC
Waterford Property Company, LLC
Zimmer Real Estate Services, L.C.

Top Sales Firms:
Apartment Realty Advisors
Block Real Estate Services, LLC
Capital Realty, LLC
Cassidy Turley
CBRE
Colliers International
Kessinger/Hunter & Company, L.C.
Marcus & Millichap
The R.H. Johnson Company
Zimmer Real Estate Servies, L.C.

Top Office Leasing Brokers:
Kenneth G. Block, SIOR, CCIM (Block Real Estate Services, LLC)
Sharon L. Gartin (Kessinger/Hunter & Company, L.C.)
Jim Gates (Kessinger/Hunter & Company, L.C.)
Bryan W. Johnson (Colliers International)
Jeffrey C. Kembel, SIOR (Capital Realty, LLC)
Michael T. Mayer, SIOR (Cassidy Turley)
Ned O’Connor (Waterford Property Company, LLC)
Tim Schaffer, SIOR (RED Brokerage, LLC)
Ryan Schneider (Jones Lang LaSalle)
Greg Swetnam (Kessinger/Hunter & Company, L.C.)

Top Retail Leasing Brokers:
Mark Arensberg (Colliers International)
Kim Bartalos (Block Real Estate Services, LLC)
Sher Blandford (Kessinger/Hunter & Company, L.C.)
Stephen J. Block (Block Real Estate Services, LLC)
David M. Block (Block & Company, Inc.)
Carl A. LaSala (LaSala-Sonnenberg Commercial Realty Co.)
Bill Maas (Block & Company, Inc.)
Audrey Navarro (Kessinger/Hunter & Company, L.C.)
Chris Newkirk (Kessinger/Hunter & Company, L.C.)
Darren Siegel (Block & Company, Inc.)

Top Industrial Leasing Brokers:
Phillip Algrim (Capital Realty, LLC)
Michael R. Block, CPM (Block Real Estate Services, LLC)
Ed Elder, SIOR (Colliers International)
Mark Fountain (Jones Lang LaSalle)
David C. Hinchman (CBRE)
Mark C. Long, SIOR, CCIM (Zimmer Real Estate Services, L.C.)
Erik Lund (Capital Realty, LLC)
Michael Mitchelson (CBRE)
Paul E. Neal (Grindstone Industrial Properties)
David J. Zimmer, SIOR (Zimmer Real Estate Services, L.C.)

Top Sales Brokers:
Kenneth G. Block, SIOR, CCIM (Block Real Estate Services, LLC)
Mac Crowther (Apartment Realty Advisors)
Jon S. England, CCIM, SEC (Lee & Associates | Kansas City, LLC)
Jeffrey C. Kembel, SIOR (Capital Realty, LLC)
Carl A. LaSala (LaSala-Sonnenberg Commercial Realty Co.)
Scott Simpson (Marcus & Millichap)
Jeff Stingley (CBRE)
Michael Sullivan (Marcus & Millichap)
Scott Taubin (The R.H. Johnson Company)
Chris Wally (Wally & Co., LLC)

Copaken Brooks, Hickey & Associates sign strategic alliance agreement

Bucky Brooks. Image via Copaken Brooks

Copaken Brooks, LLC and Hickey & Associates, LLC, have signed a strategic alliance agreement “that supports both companies’ continued growth in global corporate real estate services,” according to a release issued by Copaken Brooks.

The alliance will unite two strong companies and provide a new platform on which to help commercial real estate managers reduce occupancy costs, speed up real estate transactions and provide uniform, non-biased research and reporting on a global scale.

“Hickey & Associates and Copaken Brooks both share a drive to be on the cutting edge of corporate real estate solutions,” said Bucky Brooks, principal of Copaken Brooks, in a release. “Our processes for implementing real estate transactions across multiple markets work hand-in-hand with Hickey & Associates’ expertise to negotiate economic incentives and provide site selection services globally.”

Jason Hickey. Image via Hickey & Associates

Each company offers strategic expertise that, when combined, creates a wider array of client and industry services. Copaken Brooks’ Tenant and Corporate Services Group “is the only Kansas City-grown platform dedicated to corporate services with experience from Alaska to Brazil,” according to the company.

Additionally, Minneapolis-based Hickey & Associates has 12 offices throughout the world that specialize in “market location, labor analytics, site selection, incentives and other public/private partnerships, and regulatory assistance with active projects in North America, Latin America and Asia,” according to Copaken Brooks.

“This alliance will allow both organizations to better serve our clients by offering a streamlined suite of corporate services to businesses poised for global expansion,” said Jason Hickey, president of Hickey & Associates, in a release.

Image via Copaken Brooks

Prior to signing the agreement, the two companies had already partnered to complete the disposition of a 330,000-square-foot manufacturing facility (pictured above) in Curitiba, Brazil, located just south of Hickey & Associates’ new office in Sao Paulo.

Scott Bluhm joins Zimmer Real Estate Services

Scott Bluhm. Image via Zimmer Real Estate Services

After serving a six-month internship in the last half of 2011, Scott Bluhm has been hired as an associate in Zimmer Real Estate Services, L.C.’s Sales and Leasing division.

Bluhm has a real estate license in both Kansas and Missouri. His primary responsibilities include industrial properties sales and leasing, as well as tenant representation of all property types throughout the Kansas City area. Bluhm offers a specific expertise on the Johnson County submarket.

“We are excited that Scott has joined Zimmer, as we strive to attract the best young talent to our team,” said David Zimmer, president of Zimmer Real Estate Services, in a release. “Adding his additional focus to the Johnson County industrial submarket will allow us to further focus on meeting our clients’ needs in that area.”

Bluhm, a lifelong Kansas City resident, is also active in the community. He’s a member of both the Lenexa and Olathe Chambers of Commerce, and is a current participant in the Leadership Lenexa program. Bluhm graduated from Ohio’s Miami University in 2011 with a degree in history with a secondary focus in economics.

 ~SLU Law School planned move postponed due to necessary renovations~

St. Louis University Law School is putting off their plans to move downtown. On January 26, MetroWireMedia first reported plans for a move scheduled for summer of 2012.

However, in an email announcement from Dean Annette Clark to the student body, it was revealed that plans for SLU Law School to move into the old AT&T building in downtown St. Louis are being delayed until summer of 2013.

Annette Clark, St. Louis University Law School Dean

“Extensive renovations” are the reason for the one year delay.

“While we all wanted to see the move to our new home happen as soon as possible,” Clark wrote, “after several weeks of meetings, which included the architects and construction company engaged in this project, it became apparent that our initial timeline was not feasible given the myriad of things that must be accomplished before we could move downtown.”

The 11-story, 185,000-square-foot building, located at 100 N. Tucker Blvd. was donated to SLU Law School by Joe Scott, owner of Scott Properties, and his wife, Loretta.

Future home of SLU Law, the former AT&T building, located at 100 N. Tucker Blvd.

The initial plan called for students, staff and faculty to take occupancy this fall.

Now, according to Clark, “The complexity of this project has grown.”

A building-wide sprinkler system and structural reinforcements are among the laundry list of required renovations causing the delay.

The most ambitious change is the addition of a 12^th story. SLU plans to raise the roof to make way for tiered classrooms and a mock courtroom on the top floor.

The Lawrence Group has been contracted to do the architect and design work. The university has hired Clayco as the builder.

“Creating a truly outstanding space for our law school in downtown St. Louis is a top priority” for the university and for SLU President Rev. Lawrence Biondi, Clark wrote in her email.

According to Clark, architectural renderings are expected soon.

~The Northside Regeneration Project opens the welcome wagon for their newest tenant~

National Sales Co. opened their new distribution and sales center yesterday. The new headquarters, located within McEagle Properties at 1533 Delmar Blvd. is part of the Northside Regeneration project.

National Sales Company is the newest neighbor on the NorthSide Regeneration Project.

The 100,000-square-foot space includes the recent addition of a 24,000-square-foot showroom, distribution center and administration offices.

“Our new location allows us to not only conveniently serve and supply our customers in both Missouri and Illinois, but also support St. Louis’ NorthSide Regeneration project,” NSC President Lenny Knese said in a statement. “Our transition to our new headquarters is a positive step for our customers, for the city and for the progression of NSC.”

The Northside Regeneration project is a 1,500-acre project intended to bring needed infrastructure improvements such as streets, sidewalks and major utilities to create opportunities for new construction and rehabilitation of existing buildings in the area.

NSC is a regional mechanical, plumbing and HVAC distributor. The family run, third generation business was Northside Regeneration’s first tenant.

McEagle Properties is a real estate development, property management and brokerage firm.

~Shiloh, Ill., will soon have a new option in healthcare~

Holland Construction Services, based in Swansea, Ill., announced Tuesday that they have been chosen as construction manager and builder in a joint project alongside Chicago-based Pepper Construction Group.

Plans call for a 94-bed adjunct facility to the Memorial Group Inc., located at Frank Scott Parkway East and Cross Street in Shiloh, IL.

An artist's rendering of the Memorial Hospital Adjunct project

The $118 million project calls for 72 private beds, a 16-bed obstetric unit and six intensive care unit beds.

Pre-construction plans are under way, and construction is projected to begin in March 2013 with the hospital slated for completion in 2015.

Holland Construction recently completed the $24 million, 85,000-square-foot Center for Orthopedic and Neurosciences on Memorial Hospital’s campus in Belleville, and it is now working on the $6 million multiphase renovation to Memorial Care Center.

Photos courtesy of Google Images

Vatterott College signs 12-year lease on Hunt Midwest campus

An aerial view of Hunt Midwest's Commerce Center. Image via Hunt Midwest.

Vatterott College recently inked a 12-year lease on a build-to-suit campus located in Hunt Midwest’s Commerce Center.

The $9.5 million project is located on more than 7 acres of land near Interstate 435 and Parvin Rd. Hunt Midwest hopes to get a permit for expedited construction from the City of Kansas City, paving the way for the 65,000-square-foot building to be completed by the end of the year.

During the search for a new space, St. Louis-based Vatterott College was represented by Greg Swetnam and Miles McCune of Kessinger/Hunter & Co., LC. The college’s new building will include classroom space, as well as retail and automotive training centers.

According to Vatterott College’s website, the school provides “career training to students seeking career skills for a better life.” Programs of study include business, medical, technical, trades, cosmetology, dental, legal, personal fitness and veterinary. Vatterott College was founded in 1969 and currently serves 19 locations in nine states, and also offers online classes.

Hunt Midwest’s Commerce Center is a 2,500-acre master-planned development that’s adjacent to Hunt Midwest’s Subtropolis, the world’s largest underground business. The development features fully improved sites in an array of sizes to suit a variety of business needs. For more information on the Commerce Center, contact Hunt Midwest at (816) 455-2500.

Federal Reserve’s Beige Book indicates CRE activity increase

If early activity reports are any indication, 2012 is expected to be a great year for the commercial real estate industry.

Earlier this week, the Federal Reserve issued its monthly Beige Book report, which examines economic activity around the region, providing a benchmark of progress (or lack thereof) for a number of industries that include banking, manufacturing, agriculture and energy.

According to the Beige Book, “residential and commercial real estate activity picked up in January and early February. New commercial construction increased and was expected to rise further with more projects in the pipeline. Commercial real estate prices and rents dipped during the survey period were expected to firm as vacancy rates improved.”

In addition to publishing a synopsis of recent activity, the Beige Book also includes an outlook of what’s to come in the next several months. And that outlook is optimistic for the commercial real estate industry.

“After edging up in January and early February, commercial real estate sales were expected to strengthen further during the next few months,” as written in the report.

The upswing in activity through Kansas City mirrors modest increases seen in other cities featured in the report, including Minneapolis, Richmond, Chicago and Dallas, all of which noted increased leasing.

“Commercial vacancy rates were mixed in New York, decreased in Chicago, increased in St. Louis and stayed high in San Francisco,” according to the Beige Book. “Boston and Dallas noted limited levels of nonresidential construction, while Cleveland and Chicago noted improved nonresidential construction.”

Kansas City Convention & Visitors Association gets a new look

The Kansas City Convention & Visitor Association's new logo. Image via KC CVA.

The commercial real estate industry won’t be the only one having a big year—2012 might just be a banner year for the Kansas City metro area.

And to kick off the celebration, the Kansas City Convention & Visitors Association has unveiled a new logo and website.

“The KCCVA believes this brand will grow and strengthen Kansas City,” said CVA president Rick Hughes in a release. “Our goal is to serve as a primary catalyst for economic growth of the Kansas City region’s convention and visitor industry.”

The logo and brand makeover were unveiled as part of new imaging that will tie into a number of high-profile events scheduled later this year in Kansas City, including July’s Major League Baseball All-Star game.

In addition to better marketing the city for major events, the CVA’s new branding efforts will also highlight Kansas City’s continuing emergence as an arts destination, evidenced by the ongoing growth of the Crossroads District, First Fridays and more recent factors, including the opening of numerous galleries in the city’s West Bottoms district. Kansas City is fast becoming “a creative, cosmopolitan destination,” according to the CVA, yet remains “anchored in friendly, Midwestern hospitality.”

~Washington University finds a loophole~

Washington University has just announced plans for an $80 million project in the Delmar Loop.

The Loop is about to get a facelift due to plans from Washington University.

The design project includes a four to six story building consisting of retail space and student apartment space situated on Delmar Boulevard at Eastgate Avenue. Also included, in the plans, are three new mid-rise apartment buildings along nearby Enright Avenue.

According to university officials, construction is planned to start in January 2013 with an expected occupancy time frame of August 2014.

Cheryl Adelstein is the university’s director of community relations. She contends that the presence of off-campus, Wash U students will enhance the varied landscape of stores in the Loop.

Cheryl Adelstein, the university’s director of community relations.

“This is, ultimately, a neighborhood,” she said.

Washington University has full ownership of all the property being affected by the project. What makes it particularly unique is the line that divides the land. All but the eastern edge of the project’s site is in University City. The vacant lot at Delmar and Eastgate and an adjacent commercial building are in St. Louis.

No further acquisitions are planned for surrounding sites.

As part of the redesign efforts, two three-story apartment buildings at 6522 and 6263 Delmar will be demolished, as well as a smaller apartment building on the 6300 block of Enright.

Construction on the three planned apartment buildings will include underground parking and an estimated 200 one, two and three bedroom apartments.

The project is being fully financed by Washington University.

University City Mayor Shelley Welsch and prominent Loop businessman Joe Edwards also support the university’s Loop plan.

University City Mayor, Shelley Welsch

“This is just an incredible project,” Edwards said.

Joe Edwards, Blueberry Hill owner and prominent Loop businessman.

In a recent study by St. Louis-based HR&A Advisors of New York and H3 Studio and Research Planning Group, found that Loop areas in University City and St. Louis could support 155,000 square feet of additional retail space.

Washington University, which competes for students with other elite, private universities across the country, features the Loop in its recruiting material.

“We have wonderful neighborhoods around the campus, including the Loop,” said Rose Windmiller, vice chancellor for government and community relations. “We’ve looked at the Loop as a place to make strategic investments.”

John Hoal, principal of H3 Studio, said the university’s new project should lead to more public-private development in the area.

“We’re incredibly lucky in this community because we actually have it,” he said.

~Cassidy Turley takes the TOBY in three categories this year~

Cassidy Turley wins big with the 2012 TOBY BOMA award.

The Outstanding Building of the Year “TOBY” Award is the most prestigious program of its kind in the commercial real estate industry.

A key component in the award is in recognizing quality in office buildings and awarding excellence in office building management.

Cassidy Turley properties won the following awards:

Creve Coeur Center IV; 100,000 – 249,999 square foot category

Creve Coeur Center IV

Delmar Gardens; Suburban Office, low-rise category

Delmar Gardens

Gateway Commerce Center III; Industrial category

Gateway Commerce Center lll

Winners in other categories included Bank of America Plaza and Olive Corporate Center.

Properties are evaluated on tenant relations programs, community involvement, energy efficiency, emergency evacuation procedures, continuing education for building personnel and overall exceptional service to its tenants and management of the property.

The winners are now eligible to advance to the Regional competition where they will compete against buildings from Minneapolis, St. Paul, Milwaukee, Des Moines, Omaha, Denver and Kansas City.

~Johnny Welch is the newest addition to Intelica CRE~

 The newest addition to the Intelica real estate team is Johnny Welch.

Johnny Welch is the newest member of the growing Intelica CRE Welch is a Missouri licensed agent who concentrates on local business development in the industrial and office market.

“We are continuously looking for individuals whose qualities, work ethic and skills strongly align with what Intelica stands for,” said President Dan Merlo. “We are excited that Johnny has joined our team so that we can continue to deliver top quality commercial real estate solutions to our clients.”

A St. Louis native and a former Intelica CRE intern, Welch has a bachelor’s degree in finance with a concentration in real estate from University of Missouri Columbia.

“During my internship, I was impressed by how quickly Intelica was growing,” Welch said. “I feel privileged to be a part of such an experienced and successful brokerage team.”

Blue Hills Community Services Center construction moves forward

An exciting transformation is taking place at 5008 Propsect (above) in Kansas City, Mo. After being vacant for several years, a 14,168-square-foot building is being completely renovated and will become the new Blue Hills Community Services Center and Contractor Incubator.

The facility will include space for green career development, as well as training and business development for small construction contractors. Office space will also be available for progressive community development, programs and services.

BHCS Executive Director Joanne Bussinger says the original plan for the building was a multi-family, low-income housing complex, yet as BHCS pursued funding for the project, it wasn’t identified as a priority.

“We went back to the drawing board, and that’s when the market changed and allowed us to see how we can repurpose this building and develop a solution that’s a priority for the urban core, the surrounding neighborhoods and the Third and Fifth districts.”

Under the direction of development partners including developer Blue Hills Community Services, architect JUNK Architects, Inc., and construction management agent Rau Construction Co., interior demolition and asbestos abatement is now complete. Bussinger says that contractors should begin work in April, with a completion scheduled for October or November.

Because the facility is going to include space and resources to help those interested in green careers and projects, it’s only fitting that the space will be renovated to fit LEED silver standards.

Once the building is complete, it will house several business offices for Blue Hills Community Services, as well as offices and gathering spaces for neighborhood associations, training, etc. The south side of the building will feature 10 business offices for small business contractors seeking to build their ability to bid on projects and grow capacity. Parameters for qualifying businesses are still being established, but Bussinger says BHCS has already received letters of intent from more small business contractors than the building has space.

The community center has become a truly collaborative project, made possible by a number of strategic partners: Blue Hills and Town Fork Creek neighborhoods; the City of Kansas City, Mo.; EnergyWorks KC; Greater Kansas City LISC; Mid-America Regional Council; Green Impact Zone; Kansas City Power & Light; Missouri Small Business Development Division; and Full Employment Council.

“We could not have done this without each of these strategic partners,” Bussinger says.

The new building will become a cornerstone of BHCS’ ongoing efforts to improve neighborhood growth, empowerment and sustainability. The organization provides community development, programs and services focused on enhancing the quality of life for urban residents and neighborhoods through coordinated and innovative strategies.

“We can now better use this building to meet the demands of the community,” Bussinger says.

KC CREW gathers for annual IMPACT awards

KC CREW members gathered this week at the Kauffman Center for the Performing Arts to mingle and celebrate the organization’s annual IMPACT awards ceremony. Each year, KC CREW honors individuals and projects that have made an impact in the local commercial real estate industry as part of KC CREW’s larger mission, “to advance to the success of women in commercial real estate by working toward parity in opportunity, influence and power for women in the industry,” according to the organization.

The architecturally impressive Kauffman Center made for a stunning backdrop for the ceremony, which kicked off with remarks from current KC CREW president Linda Laurence of Missouri Bank. Laurence recognized presenting sponsor Stewart Title, represented by Diana Ennis (pictured below.)

Outgoing KC CREW President Marcia Charney (below) with Stinson Morrison Hecker LLP received a gift of jelly beans and a clock to pay homage to her sweet tooth and her ability to keep things running smoothly and on time.

Laurence recognized Integra Realty Resources’ Shanna Vance (below) as the KC CREW 2011 Member of the Year, thanks to her dedication to the organization that includes fulfilling communications and Board of Director responsibilities, among a myriad other duties.

KC CREW’s 2011 Project of the Year was presented to Chatham Apartments, represented by developer Tony Krzsnich (below). Located at 3701 Broadway in Kansas City, Chatham Apartments is a restored 40-unit apartment building for those over 55 years of age. The project opened in October and is nearly full.

Last, but certainly not least, Laurence and KC CREW presented the 2011 Impact Award to the women of the Kauffman Center of the Performing Arts, including the Kauffman Center for the Performing Arts Board members: Chairman Julia Irene Kauffman of the Muriel McBrien Kauffman Foundation; the Honorable Peggy J. Dunn, mayor of the City of Leawood; Shirley Bush Helzberg, civic leader; and Jan Kreamer, civic leader. Kauffman Center President and CEO Jane Chu was also recognized.

Additionally, KC CREW honored the Kauffman Center’s design and construction team: Sarah Lindenfeld, Moshe Safdie and Associates; Kayo Kimotsuki Kallas, Nagata Acoustics; Amy Slattery, BNIM; Jennifer DeWitt, BNIM; and Candice Kucharzak, JE Dunn. Attending honorees gathered during the presentation for a group photo (below).

“A building like this only comes along once in a lifetime, and many women were instrumental in the realization of the project,” Laurence said. “It has been a remarkable journey for the Kansas Citians who have helped to make this vision a reality.”

~The Harvey Kronblum Jewish Food Pantry has a new place to call home~

The Jewish Family & Children’s Service has purchased the building located at 10601 Baur Blvd. at Warson Rd. in Olivette, less than a mile from their current location on Schuetz Rd.

The Harvey Kronblum Jewish Food Pantry moves to a new location to serve a growing need.

The JF&CS was able to keep the investment of the 21,000-square-foot, single-story building under the $1 million budget mark. According to Chairman Fred Steinbach, the total deal came in at $885,000 for the purchase of the building with another $115,000 in roof repair and other renovations.

The deal was closed on February 9, according to records filed with the Missouri Secretary of State. The seller was SPD LLC, led by principle Steven Dix of Naples, Fla., and was represented by Jeff Hawley of Block Hawley.

Harvey Kornblum Food Pantry moves to their new location on Baur Rd.

Stan Hoffman of St. Louis County Realty represented JF&CS.

The building was previously occupied by MC2, a New York-based exhibit and event management business, now located in Maplewood.

According to board member, Carol Staenberg, the pantry has outgrown its current space and the need continues to increase. The Harvey Kornblum Jewish Food Pantry was started in 1991 and serves people from 110 ZIP codes regardless of race or religion.

The pantry has gone from serving 2,500 people every month one year ago, to feeding 5,000-6,000 per month currently, said Steinbach. He noted that some of those who previously donated to the pantry are now among its clients.

“Shockingly, we’re serving 63124, Ladue, and 63017, Chesterfield,” he said.

The organization is conducting a fundraiser to help cover some of the purchase costs and operating expenses. They are also looking for a $1 million donation in exchange for naming rights to the new building. Steinbach said the organization plans to have the pantry up and running by July 5, but hopes to make the move sometime in June.

 ~Gannon gets a buyer for West Pointe Apartments~

Gannon International, owner of the West Pointe Apartment complex in west St. Louis county, has found a buyer. The struggling real estate group could even net a $15 million profit in the deal, as long as U.S. Bank doesn’t sell the property first.

West Pointe Apartments in west St. Louis county may soon have a new owner.

Gannon has a contingency contract to sell property to Everest Financial Inc. of Pasadena Calif., for $56 million — $15 million more than they owe U.S. Bank.

Concurrently, the property’s receiver has scheduled a trustee’s sale of the apartments for March 9. According to Bill Schierholz, president of Gannon Capital Partners, an affiliate of Gannon International, his firm was aware of the trustee’s sale date and was working to complete the sale of the West Pointe property to Everest prior to the impending March 9 sale date.

Bill Schierholz, president of Gannon Capital Partners hopes to have the property ready to sell before March 9.

“There are five teams on site doing due diligence on the property, and they are aware of the deadline,” Schierholz said. “Gannon is cognizant of the time frame and is acting diligently to close on time,” and, he added, will act to protect its rights under the law.

West Pointe is the largest of five local developments controlled by Gannon International that have been placed in receivership since April 2011. According to Schierholz, if Everest completes the current contract, it would be the majority owner and Gannon International would have no interest in West Pointe.

 ~The Renaissance draws grand attention from interested buyers~

The 1,100-room Renaissance Grand Hotel & Suites has drawn the attention of more than 50 potential buyers since bondholders placed the convention hotel up for sale this past November.

Renaissance Grand Hotel & Suites is attracting attention from hoteliers around the world.

Interested buyers have not been named. However, Paul Ricotta, an attorney for the bond trustees maintains that they include “well-known hotel operators” from around the world.

“We’ve received a tremendous amount of interest in the hotel,” Ricotta said. “We can’t predict how many potential bidders there will be, but we are very pleased with the number and quality (of potential bidders).”

According to Ricotta, there is no set asking price for the property. However, bondholders are looking to recover $98 million that they were owed upon the 2009 foreclosure of the Renaissance from its former owners, Dallas-based Kimberly-Clark, subsidiary Housing Horizons and HRI Properties of New Orleans.

Jones Lang LaSalle Hotels has been hired to broker the Renaissance, which will eventually be sold to the highest or best bidder, according to Brian Krippner, a senior vice president with bond trustee UMB Bank.

Zimmer adds property managers, takes on management and leasing for historic building

Mark Twain Tower

Zimmer Real Estate Services Property and Facilities management division added two seasoned property managers to its staff.

Dawña Garza-Calbi brings 15 years of commercial real estate experience to the position, and has extensive experience with managing large commercial offices.

“Garza-Calbi is driven to provide the highest level of service for both her clients and tenants, and exemplifies Zimmer’s ‘Whatever It Takes’ attitude toward property management,” according to Zimmer. “With experience in both leasing and management, she fully understands the processes that affect a tenant during the leasing process. This critical insight helps alleviate issues that often arise after occupancy.”

Garza-Calbi joined Zimmer when the company took over the management and leasing for Mark Twain Tower, a historic 204,095-square-foot office building in downtown Kansas City. She had previously served a dual role as leasing agent and property manager, and will continue those same responsibilities for Zimmer, allowing for a seamless transition for the building’s tenants.

“Retaining Garza-Calbi provides important continuity and stability for the tenants,” according to Zimmer. “The Mark Twain management team is complemented by new on-site building maintenance staff, supervision from Zimmer’s chief building engineer and a strong leasing team that specializes in downtown leasing.”

Additionally, Phil Staley brings seven years of experience in facilities and property management for both corporate owner/occupants and investors.

“He has a proven ability in resolving issues on behalf of tenants and clients by remaining hands-on and seeing issues through to satisfactory resolution for all parties,” according to Zimmer. “Staley’s resourceful problem-solving and effective communication skills make him another asset to the Zimmer team.”

Staley’s position includes responsibility for the daily operations of a multi-building portfolio of office, industrial, retail and residential properties. Staley will manage property maintenance, lease enforcement, tenant relations, rent collection, contract negotiations and administration, budget preparation and implementation.

Adding Garza-Calbi and Staley to the Zimmer team brings even more experience to an already knowledgeable group.

“The addition of Dawña and Phil continues to strengthen our team and provides an even greater depth of industry knowledge and service,” said Ellen Darling, executive vice president and chief operating officer. “They both have a strong grasp of real estate operations and the important role property management plays in maximizing the value of an asset, all while maintaining a high level of service for our clients.”

Sports retailer to relocate from Washington to Kansas City

Image via Zumiez

Zumiez Inc., a specialty retailer of action sports-related apparel, footwear, equipment and accessories, announced that the company will relocate its ecommerce fulfillment operations from the company’s headquarters in Everett, Wash., to the Kansas City area.

Zumiez will lease 153,000 square feet at 9911 Woodend Road just 15 minutes west of downtown Kansas City in Edwardsville, Kan. The relocation will create 100 new jobs for the area.

According to a company press release, Zumiez assessed several cities, including Chicago, Corona, Calif., Indianapolis and Louisville before selecting Kansas City. The company cited several factors, including the importance of increasing speed of productive deliveries to online customers as rationale for the move.

“As a company, we continually evaluate opportunities to increase the speed of delivering products to our customers while also improving our costs,” said Marc Stolzman, Zumiez Chief Financial Officer, in a release. “The move to Kansas means that, across the continental U.S., our customers should receive their Zumiez order in three days or less.”

Bob Marcusse. Image via KCADC

Several businesses and organizations helped bring Zumiez to the Kansas City area, including the Kansas City Area Development Council, KC SmartPort, Kessinger/Hunter & Co., LC, the Kansas Department of Commerce, the Wyandotte Economic Development Council, the City of Edwardsville and Westar Energy, Inc.

“We have seen a strong trend of these types of facilities locating in the Kansas City region, which is ideal for ecommerce distribution due to our central location and low transportation costs,” said Bob Marcusse, president of the Kansas City Area Development Council, in a release.

Expansion begins at The Roasterie

Image via The Roasterie

Local coffee brewer The Roasterie has started a $3.7 million expansion of company headquarters at 1204 W. 27^th St. The project, which was announced in June 2011, will include a new café with covered outdoor seating, a trellis and garden area, as well as a gutted DC-3 airplane that will be stationed above the new café, complete with an illuminated runway.

The plan is an homage to The Roasterie’s logo, which includes a DC-3 plane as an homage to the company’s air-roasted process.