Day 11- Retail- 12 Days of Why it’s Great to be in Kansas City

Kansas City is witnessing an increase in retail activity after many years of stagnant commerce. High hopes

linger as local communities attempt to redevelop the city with incentives that will continue to push the city as a modern commerce hub. In 2013, Kansas City has seen a reduced vacancy rate and expects an incline redevelopment investments and now we look towards the trends in retail that take us to 2014: 

KC’s Retail Redevelopment

Kansas City’s retail market is no longer a victim of economic turmoil and has launched numerous initiatives that would relinquish the hold of previously trenched projects. City-wide incentives sought after efforts to revitalize many parts of the city. Redevelopment projects demands can be seen in the masses stretching from Jackson County to Metropolitan suburbs. Current investors’ initiatives are to seek the revitalization of areas by requesting for incentives that will aid development. They hope to spark the interest of other investments in area proximity to assist revitalization. In response, KC’s Community Improvement District (CID) has launched 27 CID’s that grant permission to increase taxes, property tax, or both to assist in prioritized development to sustain business services and retail in the area.  Learn more about KC’s redevelopment efforts in this BRES’ blog post.

KC’s Retail Outlook

During 2014, BRES anticipates a continued momentum in the leasing of quality vacancies fueled by increases of consumer discretionary purchases and incline of attraction to KC’s efficient intermodal transportation options. KC continues to create a long list of  many additions National retail hubs - such as IKEA and Menard’s to local openings. Across the city, there has been increase in stimulus for food and entertainment with many restaurants like Dickie’s BBQ, Corner Café Bakery, and Lulu’s Asian Bistro moving and and / or undergoing expansions into the KC area.  The city’s geographical location with its easy of logistics makes it ideal desired area for commerce and retail companies. 

Area initiatives to develop a state of the art  revitalized commerce hub is why Kansas City is a great place to be!

BRES 2014 KC Market Report will be here in January. Click here to sign up now!