Butterfield's Bakery joins Lenexa Public Market

Butterfield's Bakery & Market will join Lenexa Public Market tenants this week, debuting their new-concept menu at its grand opening this Friday (December 4, 2020) at 8750 Penrose Lane in Lenexa, Kan.

Kate Smith, chef/owner of current Market tenant Kate Smith Soirée, will serve soups, salads and sandwiches featuring house-made breads for lunch and dinner, brunch on weekends and an expanded menu of pastries and ice cream treats. The restaurant's open layout allows guests to watch as bakers craft fresh breads and pastries throughout the day.

Smith’s specialty French macarons proved popular early on at shopping expos and weddings. In March 2019, she began selling macarons as a day-cart vendor at the Lenexa Public Market, then later expanded to a specialty confections stall, Kate Smith Soirée. When an anchor restaurant space became available in summer 2020, Smith decided to expand even further, offering a new comfort food concept via Butterfield’s Bakery.

Butterfield's Bakery & Market's regular hours begin Dec. 4 as follows: Tuesday-Friday: 10 a.m.-8 p.m.; Saturday: 8 a.m.-8 p.m.; Sunday: 8 a.m.-3 p.m.

The Lenexa Public Market is a unique destination for locally-made foods and goods. The dynamic indoor food hall and market offers local entrepreneurs an opportunity to launch or grow their businesses. The Market is located on the ground level of Lenexa City Hall at 87th Street Parkway and Penrose Lane and is operated by the City of Lenexa.

In addition to anchor, short-term and pop-up merchants, the Market houses a culinary-inspired event space called The Kitchen, which is used for cooking classes, samplings and demos, private events and more. Visit LenexaPublicMarket.com https://www.lenexapublicmarket.com/ for more information.

KCADC highlights impressive 2020 scorecard at annual meeting

The Kansas City Area Development Council (KCADC) shined light on some impressive numbers this week during its annual meeting; including attracting 13 manufacturing, eCommerce and professional services companies in the last 12 months that will invest more than $1 billion and create 3,789 jobs in the Kansas City region.

The event was streamed digitally and broadcast on TV with over 2,000 business leaders, civic partners, national site location consultants, corporate executives and individuals across the country who have an affinity to KC.

“KC placed a strategic investment several years ago in our market’s inherent strengths for manufacturing, logistics and e-commerce. This investment led to the creation of KC SmartPort, which elevates KC’s competitive advantage through consistent messaging to companies in these industries, and is paying dividends today,” said Tim Cowden, president and CEO of KCADC.

“With more than 231 million square feet of existing industrial space, ample land for new buildings, a skilled logistics workforce and robust power and fiber infrastructure, Kansas City is primed for additional growth in the industrial sector,” Cowden said.

In 2020, KCADC helped attract prominent companies, including an 880,000-square-foot distribution center for Urban Outfitters, Inc., a 1,200-person e-commerce center for Chewy, Inc., and manufacturing facilities for Dot’s Pretzels and Tuthill Corporation, among others.

“Our priorities in identifying the home for our new omni-channel distribution center focused on people, and it was the quality of the local workforce that convinced us this is the right place to be,” said Dave Ziel, chief development officer of Urban Outfitters, which plans to open its $350 million facility in 2022.

The Kansas City region ranks No. 3 in the U.S. for industrial construction activity in cities with populations between one and four million, outpacing larger markets including Denver and Seattle. KC has seen 14.8 million square feet of industrial construction in 2020.

With a stronghold for financial, shared services and tech operations, KCADC also celebrated national recognition for Kansas City for professionals and future investment, including its ranking by Business Insider as the nation’s best “work from home” city, and its status as a Top Mid-Size City for Future Projects by the Site Selectors Guild.

“With a lower cost of living, free Wi-Fi downtown, access to diverse housing options and an abundance of lifestyle amenities, Kansas City is an ideal spot for remote workers leaving larger urban areas due to the pandemic,” said Jill McCarthy, senior executive of corporate attraction, KCADC.

“And there are plenty of new jobs for skilled professionals that relocate here, McCarthy said.

There are currently 49,000 open jobs in KC, and more than 15,000 jobs are created each year. Tech and highly-skilled jobs are growing faster in KC than in Seattle, Austin, Chicago and NYC, according to the Bureau of Labor Statistics.

“During such an uncertain time, KCADC’s success this year speaks to the highest level of professionalism, customer service and emphasis on regional collaboration that continues to move KC forward,” said Lisa Ginter, CEO of CommunityAmerica Credit Union and senior co-chair of the 2021 KCADC Board of Directors.

“This community has tremendous heart, and I look forward to continuing to make a positive impact on the KC region by supporting and amplifying the ongoing efforts of KCADC,” Ginter said.

In 2021, Lisa Ginter succeeds Dave Hall, executive vice chairman at Hallmark Cards, Inc., as senior-co chair of the KCADC Board of Directors. Brett Gordon, chairman of the board at McCownGordon Construction, will join KCADC’s volunteer leadership team serving as incoming co-chair, and Brian Roberts, chief diversity officer at Lockton Companies, will serve as treasurer.

“I’m looking forward to working alongside Lisa Ginter and Brett Gordon as KCADC actively positions the KC region as a top destination for business and talent in the year ahead,” said Roberts. “I can’t wait to see what 2021 brings for KCADC and the KC region.”

New Century Business park expands, names master developer

New Century Business Park is expanding with the development of more than 845 acres on the north and east sides of the Johnson County Executive Airport.

The Johnson County Airport Commission (JCAC) recently recommended approval of a master development agreement naming VanTrust Real Estate as the master developer, with the Johnson County Board of County Commissioners (BOCC) subsequently approving that recommendation on October 8, 2020.

The proposed conceptual master plan contemplates having up to 6.5M SF of new vertical construction with a variety of building sizes up to 1.5M SF, along with approximately 150 acres of rail laydown yards.

Most unique about the development plan is that many of the sites have the ability to be rail-served. These proposed new facilities and improvements represent a private investment at the New Century AirCenter Business Park of $278,415,690 over the span of approximately ten years.

“Creating new economic development opportunities at the New Century AirCenter have been a long time coming,” said BOCC Chairman Ed Eilert.

“This is going to bring jobs and added revenue to Johnson County, which will help the county’s airports continue to be as self-sufficient as possible and not rely on tax dollars,” Ellert said.

As a statutory requirement, a cost benefit analysis of the proposed project was performed by the county which illustrated a positive return on investment for all taxing jurisdictions ranging from 33.3% to 387.5%. Property taxes on the new construction are projected to generate approximately $135,000,000 over the next 33 years, as compared to an estimated of up to $178,000 over the same time period under current conditions, according to a release.

According to Aaron Otto, executive director of JCAC, the benefits of this development include railyard improvements, approximately 2,675 new/permanent jobs, more than $672,813,505 in estimated payroll and an estimated 1,875 construction jobs with payroll earnings of $96,750,000 over the next ten years.

In addition to its prime location within the Southwestern Johnson County submarket, the development is the only site in the metro area that offers available land allowing laydown yards, outdoor storage, access to a major railroad via short line railroad services and access to domestic air transport via New Century AirCenter.

“We knew when we first received the RFP for this project that it represented an opportunity to partner with the Johnson County Airport Commission and the county in the execution of a long term vision that would bring lasting benefits to the residents of Johnson County,” stated Rich Muller, executive vice president of VanTrust.

“We are excited to have been selected to lead this effort and look forward to kicking off what will be a significant expansion of the Southwest Johnson County industrial submarket.”

Olsson and GBA have also been selected to assist in the development plans. Olsson will be working on the rail, infrastructure and other improvements in addition to investigative studies and helping to manage the county submittal and review process. GBA’s architectural team has been hired to provide the preliminary architectural renderings and elevations.

Creativity is key for Keiten Nuspl's client success

Keiten J. Nuspl joined Block Real Estate Services (BRES) in June 2015 after graduating with a Bachelor’s degree in Business Administration from the University of Missouri Kansas City.

As a licensed sales professional in both Kansas and Missouri, Nuspl has become an expert in marketing and sales of all types of investment and owner-occupant real estate, but focuses primarily on investment property sales including: multifamily/apartments, retail/shopping centers, industrial/warehousing and office/medical buildings. Many of Nuspl’s sales include Section 1031 tax deferred exchanges.

Keiten helps to create value for his clients through individual consultation and consideration of investment goals, tax planning, problem solving and a superior market understanding. He is also involved with the Kansas City Chapter of Certified Commercial Investment Member (CCIM).

In this week’s Broker Spotlight, MWM lasers in on how Nuspl’s vast CRE experience has assisted clients in accomplishing creative solutions to meet all types of investment goals.

MWM: What market trends are you currently experiencing with your clients?

KN: Currently what I’m seeing from clients has been positive because interest rates continue to be at an all time low. Buyers are still very active and looking to close on properties to lock in strong interest rates in case they start to climb in the upcoming years.

MWM: What have you done to adapt to the changes in CRE?

KN: I have adopted to changes in the market by studying current trends to see how asset classes have been affected. This way I can assist owners or buyers with their real estate needs.

MWM: Why did you decide to work in the built environment?

KN: I started in commercial real estate by interning at Block Real Estate Services, LLC when I attended at University of Missouri - Kansas City. After I graduated, I was brought on as a full-time agent shortly after. I have been working as an agent for a little over four years and have been recognized twice as one of Kansas City’s Heavy Hitters. I chose to work in CRE because you are always on your feet and work with some of the most successful people in the business and investment industry.

MWM: What challenges and opportunities are your main asset classes facing now?

KN: One challenge buyers in the multifamily (market) are facing is figuring out if right now is the right time to buy when there is so much uncertainty in the market for the next 6 months to a year. On the other hand, there is a huge opportunity for buyers right now because interest rates are very favorable allowing them to pay higher prices, lock in long-term debt with favorable terms and still meet seller expectations.

MWM: What are your thoughts on the current state of the market in Kansas City?

I’m very optimistic about Kansas City’s real estate market over the next few years even with pandemic that’s currently happening. Kansas City has always been a very stable market and over the last few years has seen a lot of national attraction because of it, so companies and investors have been directing their attention to our market.

MWM: What leads do you look for?

KN: I look for potential clients that need assistance with their assets now or in the future and help them with their disposition plan to ensure they achieve the highest and best return.

MWM: How can prospects contact you for more information?

KN: Prospects can Contact me by my work email knuspl@blockllc.com or my office line 816-932-5531

Kenco selects Liberty Logistics Park for new facility

Kenco Logistics Services, LLC has selected a 295,600-SF warehouse and distribution space for their new facility at Liberty Logistics Park in Liberty, Mo.

“We are excited that Kenco Logistics, one of the top ten logistics companies in the world, selected the Liberty Logistics Park and our community for their new facility,” said Lyndell Brenton, mayor of the City of Liberty.

“Their decision to locate here reinforces Liberty’s place as a growing logistics and distribution hub in the Midwest. While Liberty Logistics Park is still under construction, we believe our community values, location and "can do” attitude are the differentiators that attract new businesses, like Kenco Logistics, to Liberty, Brenton said.

In the past five years, the KC region has successfully attracted eCommerce and distribution companies pledging to create more than 10,200 jobs, invest $1.8 billion and occupy 16.7 million square feet, according to a release.

“The KC region’s central location and access to a skilled workforce are key drivers of a successful eCommerce strategy,” said Tim Cowden, president and CEO of the Kansas City Area Development Council.

“The KC SmartPort team and our partners in Liberty continue to elevate our region’s competitive advantages to position KC as a leading logistics hub,” Cowden said.

The Kansas City Area Development Council worked with a number of regional partners in attracting Kenco to the Kansas City region, including the State of Missouri, Missouri Partnership, City of Liberty, Missouri, Liberty Economic Development Corporation, CBRE - Joe Orscheln, Evergy, Spire Energy and KC SmartPort.

“It is fantastic to see and support the growth in the logistics and distribution industry in Liberty and the entire KC region,” said Subash Alias, CEO of Missouri Partnership.

“The status of Missouri as North America’s Logistics Center is already well known, and more and more companies, such as Kenco, are taking advantage of one of the best river, road, air and rail infrastructure systems in the nation. When it comes to logistics and distribution, Missouri is a global leader.”

Kenco Logistics Services, LLC

Kenco is the largest woman-owned third-party logistics (3PL) company in the United States. The company provides integrated logistics solutions including distribution and eCommerce fulfillment, comprehensive transportation management services, material handling equipment services, engineering and innovation consulting, and information technology. For more information, visit kencogroup.com.