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

MMGY’s Office Open at Edison District

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After much anticipation, MMGY Global has opened its doors at Edison District! Here’s a peek inside their new 32,000 SF Kansas City headquarters in Downtown Overland Park. GastingerWalker led the charge with the build-out of the space, drawing inspiration from MMGY’s 9 other global offices. The space has a modern look with a variety of common areas mixed with more private space as well. Nexus5 Group was the contractor on the project buildout.

MMGY Global is the world’s leading integrated marketing company specializing in the travel, tourism, and hospitality industries.

The Edison District is a mixed-use development that includes over 100,000 square feet of office, 10,000 square feet of retail, Strang Hall food hall, an outdoor event plaza, and a park; creating a truly walkable community. The developers see the Downtown Overland Park project as a suburban/urban hybrid development that adds more of an urban feel to Johnson County, adding amenities that previously were not there.

AREA’s Adam AbramsMike Levitan & Tim Schaffer handle the office leasing, and Tiffany Ruzicka and Rachel West handle the retail leasing at Edison District. To download the leasing package, click here.

Edisondistrict.com

Grand Place Strives To Be Crossroads Art District Main Hub

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Grand Place, the $98 million redevelopment of the Kansas City Star building, is working towards being the next best thing in the Crossroads Art District, establishing a benchmark for leaders in innovation, business, design and community.

To make Grand Place unique for the Crossroads Art District, they will be putting aside 12,000 SF of free space for incubator artists to use for two years, creating a festival for the space, and incorporating commission pieces throughout the building. The commission pieces will include four nine foot chrome letters S, T, A and R that’ll be placed throughout the plaza, artwork commemorating the newspaper industry in the lobby, and a sculpture utilizing about 1,000 old valves removed during interior demolition. “The project is infused with art and the relationship with the Crossroads Arts Community as well as preserving the history of the building and the KC Star,” said developer Vince Bryant of 3D Development.

“We hope we can take this very large building and make it part of this annual festival and draw people in, very similar to the ArtPrize festival.”

Grand Place redevelopment is located between 17th & 18th Street on Grand Blvd. The redevelopment will include: a rooftop patio with bar and skyline views; a clubroom with breakfast and lunch service for tenants, guests and private events; a boiler room converted to an upscale barbershop, spa and locker rooms; a European style market and food hall with 15 kiosk kitchens, a bar, lounge and cafe; and finally a private plaza drive for guest arrival and pick-up items from the Market Place. Along with all of the main building amenities, the redevelopment will also include a future restaurant, office building and bank/retail site with an approved drive-thru.

Click here for the marketing package

To join the excitement, please contact AREA’s brokers:
Office:
Tim Schaffer – 816.876.2535
Sean Craven – 816.777.2838
Mike Levitan – 816.777.2845
Retail:
Tiffany Ruzicka – 816.876.2513

To view the City Scene KC‘s take on the future and finances of the Grand Place, click here.

To listen to AREA’s podcast with Vince Bryant, click here.

The New Look of the Office Week

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Is the five-day office week over? The 2020 pandemic has many companies talking and thinking about what their futures will look like. Both working from home and being physically present in the office have their perks.  The rise in the technology for video calls and virtual collaboration has made the transition rather seamless for us.  However, we as humans miss and crave the in-person interaction.   The beauty of this “experiment” is that we can achieve the best of both worlds, but there will be a shift in the way we work.  Work in the office is for collaboration, innovation, and meetings, while our work at home is of a more focused nature.

AREA’s office broker, Hank Simpson, gives his take on what the future of the five-day office week will look like:

 “While the recent pandemic may have caused employers to adapt to a new way of doing business, I do not believe that it will change what we have come to know for centuries as the five day work week. In my opinion, I believe it only has changed the way in which the employees go about their average day-to-day tasks. During the mandatory work from home order, we all developed habits, routines, exercises, etc. that I believe will stick. Whether it be a mid-morning workout that used to take place after work, a lunch later in the day rather than the norm around Noon, an errand that we would typically put off until after work that was checked off the list mid-day; it seemed like for the first time ever the world was spinning with the mindset that all facets of your life could be blended together inside the typical “work hours” and everything was going to be alright.

 With that being said, I found myself working the “unusual hours” late in the evenings, after dinner, early mornings before the sun came up, and weekend hours, which typically are not what someone would associate with the “five-day office week”. The trend that I see happening due to this is a seven-day flex schedule. It allows the individual to have a little more freedom and control of their schedule so long as the productivity does not drop. As a broker who is around many business leaders day in and day out, I have heard numerous times that “sending our employees home to a more comfortable setting has increased productivity.” This news may be a bit uncomfortable for an office broker, but if we can help both large and small business owners evaluate efficiencies in the office environment of the future, we will adapt and find creative solutions that add value to our clients.”

To view the Kansas City Business Journal‘s take on the future of the office work week, click here.

AREA + Tony Rohr Podcast: Gould Evans

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In our latest episode of Your AREA Podcast, Tim Schaffer interviews Tony Rohr, national managing principle of Gould Evans to discuss sustainability in the workplace, the design of the Cerner Campus and working with Higher Education.

Tony’s design leadership is magnetic. He is known for bringing people together, within Gould Evans and among collaborators. As national managing principal of Gould Evans, he is responsible for ensuring that his work resonates with the company’s design vision, extending beyond the normal practice to create positive outcomes for people and communities. He excels at motivating the company’s design talent and championing their efforts.

Tony has overseen a wide range of public and commercial projects for clients who are interested in employing architecture to make a difference. Clients say that Tony immerses himself in an understanding of their identity, challenges and goals.

A couple of his key projects are local to Kansas City. Tony was a part of the new Cerner Innovations Campus and the Cerner Continuous Campus, a combined 3.5 million square foot campus in South Kansas City. Cerner’s vision for the campus was something that exudes who they are as a company, something people had not seen before. Gould Evans recently renovated their headquarters at 4200 Penn, a historic building in Old Westport. This was a fun and unique project for Tony to recreate a building with all of Gould Evans’ characteristics and personalities internally in the company.

To subscribe or listen to AREA’s podcast, you can find us on Spotify or Apple Podcast.

Recorded by Let it Fly Media.

AREA Insight: 2020 Mid-Year Report

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AREA looks back over the first half of 2020 as we breakdown the impact of the pandemic and the economic shutdown on the economy and the commercial real estate markets.
With input from our senior leadership, our brokers and our analysts, we aim to provide you with the most relevant and recent info including notable deals and important trends in the economy and in the commercial real estate markets.
ECONOMIC REVIEW: Shutdown forces U.S. economy into recession, path to recovery remains uneven and unclear.
INDUSTRIAL MARKET: Continues to churn, poised for growth as economy re-opens.
MULTIFAMILY MARKET: Deal flow slows amid pandemic as investors and lenders pause. We are monitoring occupancy rates and concessions closely as indicators of market health.
RETAIL MARKET: Hard hit in almost every sector, but each category will continue to evolve through innovation and adaptation.
OFFICE MARKET: Lags behind all other sectors. Office tenants are delaying making decisions on space needs. Anticipate sublease supply to increase next quarter.
For more insights, or questions on the information in this report, please reach out to one of our AREA experts.
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