More than 120 attendees filled Park 39 in Kansas City, Missouri, for the third annual Kansas City Industrial Summit held Aug 8 by Midwest Real Estate News.
And what did these attendees hear from the top brokers, developers, economic development officials and lenders who spoke during the event? Only that the Kansas City industrial market remains strong, despite the economic challenges facing the country.
Yes, higher interest rates have slowed the number of industrial investment sales in the Kansas City region. But speakers said that the fundamentals of the industrial sector remain strong. Companies still need more industrial space. And many of these end users are choosing Kansas City thanks to its central location in the country, strong workforce, business-friendly government and access to highway and rail infrastructure.
Speakers did say that industrial activity in the region has slowed since the boom days of 2020, 2021 and 2022. Last year was a challenging year, as higher interest rates slowed both new industrial development and sales.
But the future? Speakers agreed that it remains bright. Demand remains strong for industrial space, and Kansas City remains an important industrial hub.
Speakers were optimistic about the state of Kansas City’s industrial sector during the event’s opening panel, the Kansas City Industrial Real Estate Market Overview. Participating in this panel were Mike Bell, Hunt Midwest; Scott Blum, Newmark Zimmer; Ben Whetstone, CBRE; Zack Hubbard, Block Real Estate Services; Ben Boyd, Colliers; and Alec Blackwell, Cushman & Wakefield.
Speaking during the Industrial Development, Design and Construction panel were Alec Blackwell, Cushman & Wakefield; John Hassler, Newmark Zimmer; Matt Wozniczka, Bremer Bank; Aaron Mesmer, Block Real Estate Services; and Tom Kennedy, NAI Heartland.
Participants in the Industrial Investment Climate and Capital Markets Update panel were Scott Bluhm, Newmark Zimmer; Tina Chase, Platte County Economic Development Council; Eric Gromacki, Flint Development; Sam Stahnke, ARCO National Construction; Mike Stromberg, Opus Development; and Brandon Brensing, Ryan Companies.
