Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally.

Tuesday, February 6, 2018

The 2018 Market Report is Now Available

Availble online now is the 2018 edition of The RealEstate Report, Metropolitan Kansas City. The experts at Block Real Estate Services, LLC (BRES) have assembled the most comprehensive annual evaluation you will find for the commercial real estate market in the Kansas City area. If you are contemplating a real estate transaction in 2018, this report will provide valuable information to assist you in making the best decisions.

In 2017, Kansas City generally experienced a strengthening across all product types and submarkets.  

·         Class A Office market vacancy dropped to 8.7% at the end of 2017, down 1.8% from the same time in 2016. 8.7% is the lowest vacancy rate for the Kansas City market in at least the past 16 years. During 2017 over 500,000 square feet of new Class A construction was delivered in the area and average rental rates reached $22.34. A historic sale was seen in the area as the 22-building, 2.2 million square foot, Corporate Woods portfolio was acquired by Group RMC out of New York and Montreal. BRES was brought on as the exclusive leaser and property manager.

·         Growth in Kansas City’s industrial market is being driven by more national companies that are seeking to consolidate their logistic operations, as well as internet-based firms looking for a central location to process and ship orders from efficiently. By the end of 2017 there had been almost six million square feet of net absorption with no change to the vacancy rate from the same time last year. Deliveries in 2017 reached over 9.5 million square feet which includes the 401,197 square feet at the fourth building at BRES’ Lenexa Logistics Centre South in Lenexa, Kansas.

·         The Retail market is ever changing, but brick-and-mortar locations will not go away even as retailers adapt to the changing habits of their customers. Overall, vacancy rates fell across the metro, moving from 6.2% at the end of 2016 to 5.3% at the end of 2017.

·         Multifamily transaction volume continued to maintain historically high levels in Kansas City, reaching more than $700 million through a healthy mix of sales in Class A, Class B, and Class C properties. An additional 138,240 units were added to the market due to low-rise, high-rise, and mixed-use developments popping up throughout the Metro. BRES continues to be active in the multifamily market with multiple developments in process, including: Galleria 115, 4400 Washington, The Grand, 531 Grand, Anderson Pointe, 46 Maddison and The Apex at CityPlace.

Our annual market report takes an in-depth look at each of the above sectors and will provide you with a thorough understanding of the Kansas City commercial real estate market. If you are considering real estate transactions in other markets, BRES’s team of experts can connect you with one of our affiliates to seamlessly incorporate the broadest and most accurate data available into your decision process. Our entire team stands ready to answer your questions and help you obtain a clear vision of commercial real estate in Kansas City or anywhere across the country.

A digital version of this report is also available at: www.blockllc.com/marketreport

Monday, August 14, 2017

Group RMC Acquires Corporate Woods

Group RMC Acquires Corporate Woods
Block Real Estate Services Named Exclusive Leasing Agent and Property Manager

Group RMC Corporation (RMC) announced on Wednesday that it has closed on the acquisition of Corporate Woods in Overland Park, Kan. Block Real Estate Services, LLC (BRES) acted as an advisor in the transaction. Corporate Woods becomes the largest commercial real estate transaction in the Kansas City metro since the sale of the Country Club Plaza in 2016. BRES has been appointed by RMC as the exclusive leasing and management agent for the office park. The agreement became  effective Wednesday, August 9, 2017.

Wednesday, July 12, 2017

Brad Simma and BCS Featured in June Issue of BUILD Magazine

As Vice President of Block Construction Services (BCS), Brad Simma currently directs a staff of six project managers, in addition to support staff, and oversees approximately 25 projects which are currently under construction or in the planning stages. We interviewed him to find out more about BCS, who was recently selected as a Leading Expert in its field.

Friday, July 7, 2017

Block Healthcare Development Closes on Acquisition of a Medical Facility in Springdale, Arkansas

SPRINGDALE, Arkansas---July 5, 2017---Block Healthcare Development, LLC (BHD) recently closed on a deal for the acquisition of the 31,200 SF medical office building located at 4077 Elm Springs Road, Springdale, Arkansas.

The facility was opened in May of 2016 and fully occupied in September of 2016 by Northwest Physicians, LLC.  Northwest Physicians, LLC clinics comprise the most comprehensive collection of healthcare professionals this region has ever seen. The wholly-owned group of employed physicians spans multiple primary care offices and specialty clinics.

The Springdale location currently has established family medicine, internal medicine and physical therapy practices. In addition, Northwest Physicians, LLC will be opening an Urgent Care center at this location in the near future.

BHD handles healthcare real estate transactions ranging from the development of medical offices to the acquisition of net-leased medical office properties. BHD acquired over 165,000 square feet of new property in 2016. BHD operates in conjunction with Block Funds (BF), a leading commercial real estate private equity firm. BF allows accredited investors seeking income, capital preservation and appreciation an opportunity to earn high, stable cash yields and competitive risk-adjusted returns.

Both BHD and BF are affiliates of Block Real Estate Services, LLC (BRES), a full-service commercial real estate company managing over 37 million square feet of retail, office, industrial, and multifamily properties for equity partnerships and third party owners.

To learn more about BHD or register to receive updates on investment opportunities, visit: https://www.blockfunds.com/

For more information contact:

Stephen Bessenbacher
Vice President
Block Healthcare Development

Thursday, July 6, 2017

With Major Expansion at Pine Ridge Business Park, Corbion Will Create Even More Global Food Innovations in Kansas City Area

New leading-edge lab facilities in Lenexa, Kan., will help fuel the company’s continued growth as a global supplier of ingredient solutions to the world’s foremost food manufacturers.

Friday, April 21, 2017

Construction Has Started on New Frontier Justice– Legends Building

KANSAS CITY, Mo.--- April 21, 2017 ---Block Real Estate Services, LLC (BRES) has closed on the land acquisition  for the development of Frontier Justice’s new two-story facility at the Legends Shopping Center in Kansas City, Kansas near the Schlitterbahn Waterpark.

Tuesday, February 2, 2016

Block Funds & Block Multifamily Group Closes on Acquisition of Trinity Bell Gardens

Block Funds and Block Multifamily Group (BMG) recently closed on the acquisition of Trinity Bell Gardens, a 240-unit luxury multifamily community located in Fort Worth, Texas.

"With low unemployment and the strong rent growth of Fort Worth, coupled with Trinity Bell being a newly constructed property, we feel that the positives in the marketplace will only accelerate the success of Trinity Bell Gardens," said Bill Larson, CPM, and President of BMG.

Trinity Bell Gardens was built in 2012 and boasts unique features like its "Big House" design. With an average unit size of 1,086 square feet and top-of-the-market interiors like stainless steel appliances and granite countertops, Trinity Bell Gardens is the prime multifamily complex in the area.

"We are excited to add Trinity Bell Gardens to our portfolio, which has grown to over 6,500 units since our first multifamily acquisition in January 2013," said Ken Block, Managing Principal of Block Real Estate Services.