When Ingram’s hosted its 2018 Commercial Real Estate Industry Outlook assembly in November, major players in the field likened growth in the Kansas City market to a baseball game, one that was probably in its latter innings. A slowdown could be near, but we’ve still got time.
On point with that appraisal, the market continues to gain traction. This week, the Finance Committee of the City Council approved a new office building to be built Downtown–the first in nearly three decades. The proposed property is being called Strata, and would be built across from the H&R Block tower at 13th and Main. Although no tenants have been announced, the building would total 250,000 square feet and could potentially be home to over 1,000 jobs.
November’s assembly drew such commercial-realty power players as Dan Jensen, Pat McGannon and Jerry Fogel of Kessinger/Hunter & Co., Zach Hubbard of Block Real Estate Services and Bucky Brooks of Copaken Brooks. Most of those gathered concurred with this assessment from McGannon: “I think there’s still room for growth. The GDP number is too good for this to stop in a year.”
Construction on this Strata project could start in the fall of 2019, pending the approval of the full council.
Check out the full assembly report here to read the panel’s other predictions for the market.