PBI-Gordon Corp. has leased 212,000 square feet of office, warehouse and distribution space at 1300 Quebec St. in North Kansas City. PBI-Gordon, a Kansas City-based supplier of products to the professional landscaping, agricultural and animal health markets, will use the space to consolidate operations from several buildings in the Fairfax and West Bottoms areas. Ed Elder, president of Colliers International's Kansas City office, and John Delzer, a Colliers industrial broker, negotiated the warehouse space.
Congratulations to Naomi Menefee of the Colliers International | Kansas City property management group on her success in the UMKC Lewis White Real Estate Center capstone event. The Lewis White Real Estate Center has successfully concluded its second executive graduate class. The students were introduced to the subject property at the beginning of their 14 month intense program.
Rollie Fors, a broker with Colliers International's Kansas City office, represented The Keith Corp. in the acquisition of Meritex Lenexa Executive Park, a 3-million-square-foot subsurface business park. Fors said plans called for development of three Class A office buildings of 75,000 to 150,000 square feet each on the 20 acres. Depending on demand, The Keith Corp. could acquire adjacent land for further development, he said.
VanTrust Real Estate LLC has purchased the former home of Congregation Beth Shalom, which had been on the market for nearly two years. The deal was essentially a 17.5-acre land deal, said broker Bob Galamba. He, Bryan Johnson and Ted Murray of Colliers International's Kansas City office represented the congregation, which moved to a new campus in south Overland Park in 2011.
A quick glance at the headlines the past couple of weeks would give the impression that there must have been gold or oil discovered in the Kansas City area. How else do you explain major announcement after major announcement of new headquarters, millions of dollars in expected investments and promises of new jobs all around? Colliers International’s Ed Elder summed up the situation this way at a recent roundtable discussion.
CorEnergy Infrastructure Trust Inc. is moving to downtown Kansas City not only to gain room to grow, but to add views of Kansas City’s energy infrastructure assets — the same types of properties it acquires. Phil James, senior vice president of Colliers International, helped CorEnergy locate the office space. He said the company was purposeful in wanting to set up shop in the urban core.
“The biggest pull for that space is that their core deal of buying energy infrastructure now has a huge visual aid right outside their windows when they’re making presentations,” James said. “They have a view of the core products that they are buying. That really set off this move.”
Shamrock Trading Corp. is bringing life back to the Glenwood Place office buildings after acquiring the towers in Overland Park for an undisclosed price in November. Sullivan said Shamrock already is working with Colliers International to find a “large tenant” for the 160,000 square feet of office space in the west tower.
NorthPoint Development has acquired three industrial buildings covering a total of about 240,000 square feet near Kansas City International Airport. Cameron Duff, a vice president with Colliers International, was involved in the transactions as one of the area industrial brokers who have been hunting for acquisitions for NorthPoint's industrial investors.
The commercial real estate industry, hammered locally and nationally by the recession, is showing signs of new life. To help us take the fast-improving patient’s temperature, the Kansas City Business Journal recently assembled eight local industry leaders, who together represent hundreds of years of experience and billions of dollars’ worth of transactions. Among the eight was Ed Elder, President of Colliers International | Kansas City.
The local demand for speculative industrial space most recently surfaced at SubTropolis, though perhaps “surfaced” isn’t the best term for developments at the world’s largest subterranean business park. “There hasn’t been anything built here of any significance until the last year and a half,” said Ed Elder, who leads the local industrial team for Colliers International.
When DST Systems Inc. decided to sell nearly 300,000 square feet of office and retail space in the South Plaza submarket recently, it turned to Rod Jones to help lead the marketing effort. That wasn’t surprising, given Jones’ listing for the adjacent Kansas City Board of Tradebuilding and status as top producer in the local investment real estate market. Since joining Colliers International (then Grubb & Ellis/The Winbury Group) in October 1997, he has sold more than 6.2 million square feet of commercial property, about 80 percent of it office.
Halls planned departure from the Country Club Plaza may have been a surprise to some, but not to those familiar with Kansas City's retail scene. Jerry White, senior retail adviser forColliers International, said the move was a great decision. "The day of the great local merchant, especially in the high-end business, is not very realistic today," White said. "I would guess they're hoping to broaden their reach and create a new, better destination."
Stinson Morrison Hecker LLP has signed a long-term lease extension at 1201 Walnut St., renewing its long commitment to Downtown. Bryan Johnson, Tom Volini and Sven Sykesof Colliers International’s Kansas City office represented Stinson.
Continuing its shareholder-urged move to shed noncore assets, DST Systems Inc. is selling four pieces of Country Club Plazareal estate just south of the Kansas City Board of Trade building. Rod Jones, senior vice president of Colliers International in Kansas City, represents DST and CME in the marketing effort. Holly Duran, principal of Chicago-based Holly Duran Real Estate Partners LLC, will be co-broker for the Board of Trade property. And Bryan Johnson, co-CEO for Colliers International in Kansas City, will provide team support.
Kansas City-based PBI/Gordon Corp. will consolidate warehouse space in North Kansas City as part of an expansion plan. Ed Elder, president of Colliers International’s Kansas City office, and John Delzer, a Colliers industrial broker, negotiated the warehouse space transaction for PBI/Gordon.
The Kansas City industrial real estate market continues to grow at a healthy clip. Robinson, vice president of development for NorthPoint Development, said intermodal will be “an absolute game changer” for the market. And a new market report from Colliers International’s Kansas City office agrees.
Rod Jones and Bryan Johnson of Colliers International will co-broker the sale of the building with Holly Duran Real Estate Partners out of Chicago.
Allison Vance Moore and Lance Johnson of Lawrence’s Colliers International office helped broker the deal. “I can tell you this company definitely was being wooed by other communities,” Moore said. “We feel fortunate that we got this space in front of them at the right time.”
Allison Vance Moore of Lawrence’s Colliers International helped broker both deals.
As a result of a recent fundraising and awareness event, Colliers International raised $3,000 for the Missouri River Relief, a not-for-profit organization dedicated to connecting people to the Missouri River through hands-on river clean-ups, education events and stewardship activities.
Rod Jones and Bryan Johnson of Colliers International listed the building in May for a short sale, meaning proceeds were unlikely to cover what was owed on the building, and the note had been transferred to a special servicer.
Anita Bates with the Kansas City office of Colliers International was recently elected to the board of directors of the Kansas City Chapter of CCIM.
Word around town is that a couple of locations are the leading contenders. There is the space at 815 Mass., which used to be the formal wear shop next to Marks Jewelers. Allison Vance Moore, a broker with Lawrence’s Colliers International, has confirmed to me she has a lease pending on that spot.
AOS, which is staying in its current office park, received $1 million in Kansas tax incentives to keep its headquarters in the Sunflower State, CEO Gary Alexander said Friday. He said he rejected a $5 million offer from Missouri to relocate to Kansas City.
Ed Elder represents Crayola LLC in an 800,000 SF, $40 million, new distribution center along Route 412 in the Majestic Bethlehem Center in Bethlehem, PA.
Cameron Duff, a broker for Colliers International, said the new building gives VersaFlex ample room to grow. “It was a situation where they found a building they could grow into over the next few years,” Duff said. “They might not need it all on day one.”
“We did look around,” said Cameron Duff, a Colliers International associate who represented Webco. “At the end of the day, Olathe was where Webco wanted to be, and the city worked very hard to make sure they kept them.”
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