The Kansas City, Missouri, commercial real estate market has remained resilient even during these times of high interest rates. And the future of this market? It looks even brighter.
That’s the main takeaway from Midwest Real Estate News’ sixth annual Kansas City Forecast Summit held Nov. 8 at Park 39 in Kansas City, Missouri.
Panelists focusing on industrial, multifamily and retail all spoke of the positive signs in their sectors. As these speakers said, the Kansas City commercial real estate market boasts several positives that attract new businesses and companies to the area.
The office sector? That continues to struggle, but even the brokers working this sector said that certain office properties are performing well. Tenants continue to seek space in high-quality Class-A office properties that boast plenty of amenities. And as older, non-performing space is removed from the market? The office sector fundamentals will steadily improve, panelists said.
There’s a lot of positive news to share about the strength of both Kansas City’s downtown and suburban markets, and that’s what the panelists on the Transformation & Development of Downtown and Suburban Markets panels did. Speaking on this panel were Audrey Navarro, Clemons Real Estate; Caleb Buland, Exact Architects; Diane Botwin, Botwin Commercial Development; Andrew Brain, The Brain Group; and Jon Stephens, PortKC.
Panelists focused on the Kansas City area’s biggest commercial sectors during the Kansas City Market Update: Office, Industrial, Multifamily, Retail, 1031s and Construction panel. Participating in this panel were Jason Osborne, Rosemann & Associates, P.C.; Sheryl Vickers, Select Sites, LLC; Jayme Miller, JLL; Greg Schowe, Asset Preservation; Nick Durand, Turner Construction; Scott Bluhm, Newmark Zimmer; and Niko Vrentas, Berkadia.
The multifamily sector remains a strong one in the Kansas City region. Why? People want to live here, and they’re especially interested in modern, amenity-rich properties. Speaking on the Multifamily & Adaptive Re-Use: Opportunities & Challenges panel were Chip Walsh, Mercier Street; Bob Mayer, MR Capital Advisors; Scott Rosemann, Rosemann & Associates, P.C.; Ben Thomas, Berkadia; Terrell Jolly, Integrity Capital Management LLC; Bob Galamba, Colliers; and Brenner Holland, Hunt Midwest.
