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.

Monday, December 10, 2012

Day 2: 12 Days of the Market Report: 2012 Market Report Overview

Every year, Block Real Estate Services releases a comprehensive report that sheds light on trends in the Kansas City Commercial Real Estate sector. This next year, BRES is excited to present the 2013 Market Report with even more rich content that will give the industry a leg up on the year.

A year ago, at the end of 2011, the country faced some pretty grim statistics with a nearly 9% unemployment rate. From 2001 to 2011, the Kansas City Metropolitan area lost over 100,000 jobs over the 10-year period. Good news for Kansas City is that it is expected to add a surprisingly high 36,700 jobs in 2013. Kansas City has also been noted for a variety of other accomplishments that give hope for a fast turnaround out of the bad economy:

  • Kansas City is now ranked second on the “10 Cities To Watch” for contemporary design, ranked first for the best mid-sized airport in the country, and fourteenth for the lowest cost of air travel. 
  • Kansas City also ranks in the top five in Kiplinger’s list of “50 Smart Places To Live” based upon its 15 institutions of higher education in the Metropolitan which offer graduate degrees. 
  • At year-end 2011, the UMKC Bloch School of Management was named the world’s top academic site for innovative management research, beating other great universities such as Harvard, MIT,and Stanford. This incredible honor should spotlight Kansas City as the educational hub for future entrepreneurs.

Even with this level of growth, the Kansas City economy will not return to its pre-recession employment level until the end of 2014, or over six years after the Great Recession began. All of these variables and more factor into the Commercial Real Estate industry as we prepare to seize the opportunities of 2013. This year's report will cover these areas:

  • Downtown
  • Office
  • Industrial
  • Retail
  • Investment
  • Multi-Family 

Get the insight first and sign up to get the 2013 BRES Market Report before it hits the press in mid-January.