AREA BlogKeeping you up-to-date on Kansas City commercial real estate trends.

Hello Big Idea Signs New Office Lease off The Plaza

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Hello Big Idea has signed a ten-year lease for 2,251 square feet of creative office space within American Century’s Parkside Plaza in Kansas City, MO. They are currently located in the Mainmark Building in the Crossroads, with a lease that is up this May. The marketing and branding agency is based in Kansas City, and founded by Ashley Mahoney, honoree of a 2022 Women Who Mean Business from the Kansas City Business Journal.

With the move and office renovation, Hello Big Idea has been rethinking their use of office space. The team of 9 created a wish list based on how they are using their current space post-pandemic and what can they do to spark collaboration in the new office. A couple of the team’s wish list items include a move toward more enclosed rooms for privacy and zoom calls and a space to host events. Parkside Plaza’s walkability as well as its streetcar line location were amenities that drew them to the Parkside Plaza building.  Hello Big Idea plans to move into their new office this spring.

AREA’s Ellen Fisher represented Hello Big Idea with their new office lease. To read more about their plans for the new space, check out the Kansas City Business Journal’s article here.

Bacaro Primo is Coming to Crestwood Shops in Spring of 2023

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After far exceeding Kansas City’s expectations, Todd Schulte and Cory Dannehl, owners of Brookside’s Earl’s Premier, are at it again! The duo has announced their newest venture, Bacaro Primo, a casual Italian restaurant and bar, will open not far from Earl’s. Currently under renovations, Bacaro will occupy the former Café Europa space (323 E 55th Street, Kansas City, MO) in Crestwood Shops, with a spring 2023 opening.

Much like Earl’s, Bacaro Primo will be casual and smaller in size, serving up mouthwatering dishes.  With a focus on deli meats and centered around a salami bar, Bacaro will feature a fire engine hand slicer creating sliced-to-order charcuterie boards. The menu will also include wood-fired pizzas and fresh pastas with an emphasis on imported products not easily found anywhere else in the city. “Quality is the name of the game first and foremost,” says Schulte.  Along with the high-quality food menu, the restaurant will feature a curated wine, beer, and cocktail menu, with a special program for negronis and amaros.

Schulte and Dannehl were first attraced to Crestwood Shops after seeing first hand how a small restaurant on a good block, run with top talent, and serving great food can build a loyal following. Bacaro Primo becomes the first new tenant in the historical shopping center after 15 years.  The restaurant is named after the famous ancient Venetian wine taverns, known as “bacari.” These little wine bars are used as a place to mingle over plates of food and a glass or two of wine. They will be open for lunch and dinner Monday through Saturday. We can’t wait for you to assaporare! Mangia!

AREA’s Rachel West represented Crestwood Shops in the transaction. To read more about the highly anticipated restaurant, click here for the Kansas City magazine article and here for the Kansas City Star article.

To see the Crestwood Shops marketing package, download it here.

AREA Lists Wichita’s Ironhorse Manufacturing Park

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Aspen Funds, an Overland Park real estate investment firm, has taken over the remainder of the Ironhorse Manufacturing Park development in Wichita, KS. AREA Real Estate Advisors & J.P. Weigand & Sons are the listing agents for the project, located on the southwest corner of South Seneca Street & West MacArthur Road.

Aspen Funds purchased the remaining land from Triple Crown Realty Trust and will soon break ground on the first 201,000 SF industrial warehouse building. There is a plan for a second, 140,000 to 150,000 SF build-to-suit building to follow. Pet product manufacturer, Cosmic Pet, occupies just over 300,000 square feet south of the future buildings within the Iron Horse development.

AREA’s Brent Peterson said “The spec model — building without already having a tenant lined up — has seen success in the Wichita area. Real Estate professionals say many national companies are unwilling or unable to wait the time it takes to plan and build a new facility. Wichita does not have a lot of current speculative industrial product.”

With ample power in the building, a distribution or manufacturing user would be the likely user. However, the listing team does not want to limit the prospects, and will entertain any user.

The Ironhorse Listing Team includes Brent Peterson and Tom Kennedy, as well as Bradley Tidemann with J.P. Weigand. 

Click here to download the Ironhorse marketing package.

AREA Gains Significant Property Management Growth in 2022

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AREA Real Estate Advisors has hired three new team members to support its property management division’s dynamic growth.  AREA has experienced a 99 percent growth in its management portfolio, managing more than 2 million sq ft in 2021 to more than 4.2 million sq ft in 2022.

In early November, AREA’s property management group began overseeing a new client’s portfolio of industrial flex space, including 20 buildings and 760,000 square feet. Along with these new assignments, AREA has welcomed three new employees: Property Manager Mike Long, Property Manager Martin Whipple, and Property Administrator Anna Waldron. Whipple and Waldron both join AREA from Axiom Property Management. Long was previously at Curry Real Estate Services.

Long has more than 25 years of property management experience and most recently oversaw the multi-family management department at Curry. He is a past president of Kansas City IREM, holds IREM CPM designation, and is currently on the IREM National Membership and Credentialing Committee. 

Whipple has more than 22 years of industry experience, which includes time at Hines and Colliers.  

Waldron recently started her career in commercial real estate. She earned her undergraduate degree at the University of Houston and her master’s degree in Piano Performance at UMKC. 

 “AREA Real Estate Advisors is a special place where highly committed, thoughtful people can do their best work,” said Tim Schaffer, AREA Real Estate Advisors founder and president. “Doug exemplifies that spirit, and I know Mike, Martin, and Anna are ready to pick up the torch and continue growing AREA’s property management group.”

The Kansas City Business Journal interviewed Tim Schaffer and Doug Grossenbacher on the firm’s property management expansion. To read the full article, click here.

Ryan Lawn & Tree Acquires Third Missouri Property in 2022

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Ryan Lawn & Tree recently purchased 30,000 SF on 7+ acres in northern Kansas City. The site at 1600 NE 126th Street, just south of Smithville, is Ryan’s third Missouri acquisition this year. Two additional purchases by Ryan this year include 2 buildings totaling 30,000 SF on 1.87 acres in Grandview, MO and a 35,000 SF building in Chesterfield, MO, on the west side of St. Louis.

Ryan Lawn & Tree has been providing quality lawn care services to the Midwest for over 30 years, with locations in Kansas, Missouri, Nebraska and Oklahoma.

AREA Real Estate Advisors and Jones Development are pleased to partner with Ryan on its continued growth. Brent Peterson, Seth Sinovic and Evan Calkins with AREA as well as, Brandon Heck, with Jones Development represented Ryan Lawn & Tree with its recent acquisitions. Tim Convy and Brian Kelly, with Center Commercial Real Estate, were instrumental in the St. Louis acquisition.