Five minutes with Valbridge President Laird Goldborough

Over the past decade, Valbridge Property Advisors in Kansas City has enjoyed double digit growth and seen its staff double in size. Formerly Shaner Appraisals, the company rebranded in 2013 and founded national firm Valbridge Property Advisors. The move led to access to national clients and a 20 percent uptick in customer growth over the past five years. MetroWire Media caught up with Valbridge President Laird Goldborough for insight into the Kansas City market and a look at what's ahead for the company.  

MWM: How did your 2013 founding of Valbridge change Shaner Appraisals?

Goldsborough: We shifted to a national platform. Shaner Appraisals, Inc. was a local company, and we now have national reach as well as access to larger corporate clients. In Kansas City, we were a dominant firm but were not nationally recognized. Now as Valbridge, we have a bigger seat at the table.

MWM: Some are predicting a market slowdown in 2019. What are you seeing?

Goldsborough: I am more optimistic. Kansas City is a low beta market, so there are not a lot of swings. The coasts tend to move up or down before we do. The number of construction cranes is crazy in Kansas City. Single-family is very active, and in the short term the only thing that may start affecting the velocity is an interest rate hike. I don’t really see a major slowdown any time soon. I have not seen any product that has ceased building. It’s been a nice run and cycles do end, but I don’t see the end in the near term.

MWM: You’re celebrating five years as Valbridge, but you’ve been around much longer than that. How has your leadership changed and how will it continue to evolve?

Goldsborough: This is the 40th anniversary of Shaner Appraisals, founded by Bernie Shaner. I purchased the company from Bernie, but he remains very active. We just announced the next generation of leadership with the appointments of Daniel Kann and Jason Roos to Managing Directors. These guys have done everything right. They work hard and are very smart, and we are happy to have them lead the firm into the future.

MWM: How is your role at VPA changing?

Goldsborough: I am seeing my role shift a bit toward mentoring, and I really love coaching and bringing people up through the system. I am a graduate of the HEMP program (Helzberg Entrepreneurial Mentoring Program), and it is all about giving back and mentoring the next generation. After graduating from that program, this succession planning makes a lot of sense.

Valbridge Property Advisors Principals Bernie Shaner and Laird Goldsborough have announced a new succession plan for leadership that promotes Daniel Kann and Jason Roos to Managing Directors. Pictured above: Bernie Shaner, Daniel Kann, Jason Roos, Laird Goldsborough

Changing retail trends drive shift in Price Brothers’ BluHawk plan

Price Brothers recently announced new plans for its $750 million, 277-acre mixed-use BluHawk development that includes a 300,000-square foot indoor multi-sport complex operated by Colorado-based Sport Stable. The $205 million, 59-acre first phase will launch with a new redesigned civic and community center and arena, indoor complex and hockey rink, as well as additional restaurant and retail.

Originally envisioned in 2006 as the home of Sporting KC, the project been modified to fit neighbors’ wishes.

“The key words here are evolve and adapt,” said Price Brothers President Doug Price. “The (professional soccer) plan didn’t pass the litmus test with taxpayers. They want only amateur sports here, and this is our response to that. It’s not a change of course, it’s more of a slight change in sporting components. It’s always been a family friendly sports, science and educational development.”

The new timeline moves the Cosmosphere project and retail outlet stores to Bluhawk’s second phase and is in response to changing consumer demands and retail shopping habits, according to Price Brothers VP of Development Bart Lowen.

“We recognize that retail has to evolve from what it was 10 years ago and can’t just be a shopping only experience. It has to move beyond that. It has to start at the periphery and offer other opportunities to experience when you are there,” Lowen said. “BluHawk will be a place where kids can go to practice, families can take in an event, visit the Cosmosphere, and enjoy the day.”

Bluhawk started going vertical in 2015 and has sold nearly all of its single-family home sites, according to a release. In addition, currently open are Shawnee Mission Health - South Overland Park, public safety administration building, Cosentino’s Market and other nearby retail, as well as the 159th & Antioch interchange.

"Bluhawk will be a place where active minds and energetic bodies can thrive. Some will call it home and some will visit frequently,” Price said. “To all, it will offer an intersection of health, knowledge and leisure. Bluhawk will be about well-being, learning and playing – a next generation destination designed for both today and tomorrow.”

Developer completes Longview Farms stabilization effort

The stabilization of four historic buildings at Lee’s Summit’s Longview Farm has been completed, setting the stage for full restoration of several structures central to the former show farm’s future redevelopment.

“These buildings serve as a historic cornerstone for Lee’s Summit’s New Longview development area and its $80 million in ongoing housing and commercial projects,” said Mark Moberly, Director of Development with Sunflower Development Group.

The stabilization project included structural repairs and weatherization related work to prevent further deterioration of two red-roofed barns, a farm house, a dairy manger house, and the show farm’s signature arch on the north end of the property.

The City of Lee’s Summit, along with Mariner Real Estate Management, now called Platform Ventures, and Sunflower Development Group, used tax-increment financing to cover costs of the stabilization effort. Full restoration projects will be completed with assistance from TIF district revenues to fund the additional improvements.

The City of Lee’s Summit worked with developers to inspect, plan and design the stabilization work, which will help ensure responsible redevelopment of both Longview Farms and the New Longview area, according to Lee’s Summit Mayor Randy Rhoads “Because historic redevelopment can be complicated and costly, the City was mindful of not over-investing in these structures. The goal was to stabilize, weatherize and shore up the buildings in anticipation of future investment,” said Mayor Rhoads.

In December, Sunflower Development Group announced it would complete $3 million in renovations to the 101-year-old Longview Mansion, 1200 SW Longview Park Dr., by late 2018.
Sunflower Development Group is known for historic restorations of several downtown Kansas City properties, including conversions to hotel, housing and other commercial uses.

Sunflower will secure private financing for the restorations, but public financial support is still needed to cover the extraordinary costs associated with stabilizing and rehabilitating the unique structures, according to Moberly.

“Working with the City of Lee’s Summit, State of Missouri and National Parks Service to secure the TIF and historic tax credits is extremely important due to the financial gap that exists with rehabilitating each property,” Moberly said.

While work on the Mansion began in February, the timeline for full rehabilitation of the remaining structures is uncertain due to the need for significant new construction commercial projects in the TIF, like a new theater, to happen first.

Sunflower Development Group maintains ownership of buildings it restores and leases them to tenants.

**Picture provided by Sunflower Development Group

Unique incentive, multi-tenant footprint attract companies to Hunt Midwest Business Center

Hunt Midwest is seeing strong leasing activity for two Class A industrial buildings at Hunt Midwest Business Center (HMBC), a 2,500-acre commercial development in Clay County at I-435 and Parvin Road.

Four new tenants totaling about 250,000 square feet are leasing space in HMBC Logistics I and II, including American Tire Distributors Inc., ORBIS Corporation, Spartan Motors, Inc., as well as a leading supplier to the e-commerce industry set to open in April.

Each tenant qualified for a 100 percent, 25-year tax abatement. According to CBRE’s Austin Baier, who handles leasing for the buildings, the Enhanced Enterprise Zone incentive is helping close deals.

"The unique tax abatement available at HMBC really gets the attention of warehouse users. Once a tenant qualifies, then the whole building is qualified, so both HMBC Logistics I and II are solidified and locked in. That guarantees companies a true 100 percent tax abatement for 25 years," Baier said. 

Mike Bell, Hunt Midwest vice president of commercial real estate, agreed: "The EEZ is a game changer for companies looking to locate in HMBC. With the tax incentives offered, companies are benefiting greatly from substantial savings."

The robust leasing activity validates Hunt Midwest’s strategic decision to invest in multi-tenant facilities geared to tenants starting at 40,000 square feet, according to Hunt Midwest President and CEO Ora Reynolds. The strategy has been so successful, a third multi-tenant building is on the books.

"Phase 5 of the Hunt Midwest Business Center includes a third 200,000 SF multi-tenant building along with room for additional buildings ranging from 450,000 to 1.2 million square feet. As businesses grow, we will have the inventory to meet their growing demands within HMBC," Reynolds said.

Hunt Midwest co-developed the buildings with Chicago-based HSA Commercial. 

Burns & McDonnell pumps up design-build presence with veteran hire

Burns & McDonnell is aiming for a bigger slice of the Kansas City commercial construction market, hiring KC architecture and design veteran Trevor Hoiland to lead its growing commercial design-build team.

In the newly created position of Design Manager, Hoiland brings 20 years of experience designing some of Kansas City’s most visible projects, including the world headquarters of H&R Block and AMC Entertainment.

“My world has been the corporate office environment and office campus master plans. I think now as I'm designing, it is a faster speed-to-market that I find intriguing,” Hoiland said. “Adding engineering and construction to the whole process really makes a lot of sense to me.”

According to Burns & McDonnell Senior Vice President Mike Fenske, having the entire team under one roof saves time and money while boosting collaboration, creativity and productivity.

“Our integrated design-build method is attracting top talent in our industry, like Trevor, because they are passionate about working on a project from concept to completion,” Fenske said. “This approach, common in the era of master builders a century ago, is now disruptive to tradition.”

Hoiland plans to bring a unique “inside out” conceptual design approach to a wide range of commercial projects within Burns & Mac's Global Facilities Group, from office to multifamily and even industrial facilities.

“The ultimate is to create something that we don’t know we need or want-- and finding those things in projects is what gets me excited,” Hoiland said.

Veteran KC architect Trevor Hoiland will help Burns & McDonnell boost its design-build presence.